The euro continued its slide against both the US dollar and GB pound yesterday, falling around 0.5% on the day and around 1.5% across the week against both.
The immediate prompt was German industrial production data, which fell below forecasts at -2.5%.
With less than 10% of its population vaccinated in the eurozone compared to over a third in the UK and a quarter in the US, hopes for a rapid recovery from Covid are fading.
However, this morning’s German export data for January was positive, rising 1.4% against an expectation of a 1.2% decline, as was France’s non-farm payrolls, which fell 0.1% against an expectation of -0.2%.
