The Euro has strengthened against Sterling today. UK manufacturing data was released showing a slight improvement which usually has a positive affect for Sterling. However, Eurozone unemployment came in at 11.2%, 0.2% lower than expected. The first data release for sometimes that has been positive for the Eurozone after the still yet to be resolved.
UK construction data is due out tomorrow and I expect there to be a slight reduction which could cause further Sterling weakness. However with Eurozone Retail figures due out on Wednesday and the general consensus is there will be a drop, I expect the Euro’s rally will come to an abrupt end. If you are a Euro seller it may be wise to consider moving.
If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on [email protected] .