020 7898 0500The euro continues to trade at elevated levels against its main counterpart, the US dollar, but was unable to break the highs for 2017. In terms of economic data it was light, with only Eurozone inflation data hitting the wires. This showed a reading slightly above expectations. However due to the way it is released (country by country) it did not affect the single currency.
The key event of the week will be on Thursday at the ECB meeting. The market is expecting no change in policy, but it will be looking for clues about the outlook for quantitative easing. There have been reports suggesting the ECB could use this meeting to signpost tapering later this year.
