The single currency has experienced an unsteady but marked decline against sterling over the past two weeks, as investors put their faith in the UK’s vaccination programme beating the Eurozone’s against the Omicron variant.
Against the US dollar, a ‘choppy’ month has continued, with a strong rise yesterday followed by an almost as large drop this morning, which leaves EUR/USD where it was before Christmas.
There was very little to excite the markets on the data front yesterday, but we did hear that loans to both households and companies in the eurozone rose slightly ahead of expectations in November.
This morning we’ve had inflation in Spain revealed to be running at 6.7%, well ahead of expectations and a surge from 5.5% last month. Electricity, food and non-alcoholic drinks were the main drivers.
