The euro dipped after this morning’s German Ifo survey showed a sharp drop in business expectations, with the energy shock hitting manufacturing and construction particularly hard. The European Central Bank has started talking about the possibility of raising rates if inflation gets out of hand, but that has not been enough to offset worries about growth. The big release to watch is next Tuesday’s eurozone inflation reading for March — the first one that will properly capture the impact of higher energy costs.
GBP/EUR past year
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