The euro did weaken slightly against the pound, but made up for that by strengthening against the US dollar. It was a quiet day for economic data in the UK, US and eurozone, so attention was trained elsewhere.
The single currency’s recent performances against the greenback have been remarkably consistent and it has been trading within a very tight range over the past fortnight or so. Any significant movements in the short-term are likely to be fuelled by political events (especially in Spain), but then, one can never tell what is going to happen from one day to the next.
Later today, the German balance of trade figures are published and on Thursday, we will have the eurozone industrial production numbers.