020 7898 0500The euro made gains against both sterling and the US dollar. The advancement made was largely due to political developments from both the UK and US. A major development in the UK was the potential for a hung parliament, while in the US it emerged Trump is poised to pull the country out of the Paris climate deal.
In the meantime, there could be a rethink about the pace of inflation as the headline figure showed a larger drop than anticipated. Inflation fell from 1.9%, down to a level of 1.4%. This might slow ECB policymakers’ ability to change current stimulus policy measures.
The debt talks in Greece continue to rumble on with the likelihood yet again that the can will be kicked down the road with no clear and decisive solution being reached.
It’s fairly quiet in terms of economic data today, so the currency might take stock and calm a little after a frantic month-end.
