The euro has weakened against both the pound and the dollar this morning, reaching its lowest level against the greenback since spring 2020.
Indications of interest hikes in both the UK and the US are weighing on the single currency as the European Central Bank maintains its ‘dovish’ stance. Continued tensions between Ukraine and Russia are also pushing the euro down.
The French economy grew by 7% in 2021, its strongest growth in 52 years. Spain’s economic growth also beat expectations. Later this morning we will see GDP data for Germany, as well as consumer confidence figures for the whole eurozone.
