The euro is weaker against the dollar this morning, largely due to dollar strength.
The single currency also fell due to comments from European Central Bank President, Christine Lagarde, who spoke at the ECB’s forum yesterday. She stated that low inflation was unlikely to return.
She explained that “There are forces that have been unleashed as a result of the pandemic, as a result of this massive geopolitical shock that we are facing now, that are going to change the picture and the landscape within which we operate.”
German retail sales came in better-than-expected month-on-month in May, showing a 0.6% rise, driven by textiles and clothing sales. Later today, inflation data for France will be released.
