The euro has strengthened slightly against the dollar this morning, moving away from the 9-month lows it saw yesterday.
However, the single currency remains pressured as market mood stays cautious and investors continue to opt for ‘safe haven’ currencies such as the greenback.
German PPI figures released this morning revealed that producer prices rose by 1.9% in July, up from the previous month, which failed to give the euro support against the dollar.
Next week we will see a whole host of data releases for the eurozone including Markit PMI, consumer confidence and a European Central Bank meeting which could all give the euro new direction.
