The euro has strengthened slightly against the dollar, after hitting a four-month low against the greenback yesterday. The single currency is still, however, feeling the effects of slow vaccinations and a recent surge in cases.
Yesterday, the bloc asked for approval from European leaders on a vaccine export ban to countries that were ahead with vaccinations, such as the UK. Leaders refused the ban and instead chose to support “global value chains” and to “respect contractual delivery deadlines”.
Spain has been hit hard by the pandemic, with data showing that the country’s economy shrank by 8.9% year-on-year in Q4 of 2020, and saw zero growth between October and December. Next week we will see data releases for consumer confidence in the Eurozone.
