020 7898 0500The euro clawed back some of the losses it made on Friday as FX markets resumed after the holiday. There were rumours circulating that the ECB might change its approach ahead of its June meeting. It is thought that the central bank could remove some stimulus-supportive wording.
As consumer confidence fell in the US, we saw a weak dollar which propelled the single currency even higher.
Following on from yesterday’s slightly disappointing German inflation numbers (with a reported decline of 0.2% on a monthly basis), the annualised reading is expected to decline. It has recently been near its target level of 2%, but is expected to drop quite sharply to 1.5%.
