EUR: euro losses ground against the US dollar

The euro stayed relatively flat against sterling but lost ground to a stronger US dollar yesterday.

Eurozone manufacturing PMI data was revised up slightly to 57.4 but had little impact on the market.

We also saw some poor labour data out of Italy, which showed the unemployment rate is worse than expected and had risen to 11.3%, whilst the overall unemployment rate in Europe stayed steady at 9.3%.

Today we have Spanish unemployment change figures and inflation data from Europe as a whole.

US banks will be shut today in observance of Independence Day which can lead to irregular volatility in the market.