The euro is struggling to gain momentum against the dollar and the pound as concerns continue over the pace of Europe’s vaccine rollout.
At the end of last week, AstraZeneca warned the European Commission that there would be a shortfall in the promised 100m vaccine doses this quarter, of up to 60%. This is due to a ‘technical’ problem at the Belgium plant.
The GfK Consumer Climate Indicator in Germany dropped to an eight-month low of -15.6 this morning, far below market consensus of -7.9. Sentiment was impacted by the extension of lockdown measures.
The ECB’s Chief Economist, Philip Lane, will speak later today.
