Last week was a strong one for the euro with as increased speculation around the outcome of the UK’s EU Referendum led to a weakened sterling. Despite this uncertainty affecting the single currency too, the euro has performed well against the US dollar this week, hitting its highest level since early May. Overall uncertainty over both sterling and the dollar are leaving the euro in a good, if somewhat delicate position.
This morning sees very little information released, with the majority saved for later in the week – when we will see data and figures for Industrial production and Consumer Price Index (CPI), as well as the outcome of Eurogroup and EcoFin meetings. This will be topped off on Friday, with a speech by European Central Bank President Draghi. With so much information out and more expected volatility we could see continued spikes and slumps.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.