The single currency leapt against the dollar and the pound yesterday as soon as the ECB made its interest rate announcement. But while it lost that gain straight away against the pound, it continued to rise against the US dollar, stretching to 1.1% by the end of the day.
This morning we are waiting for the final inflation data reading for the eurozone, as well as wage growth. Will it have fallen from last month’s 5.7%, which was felt by some analysts to be indicative of a growing wage price spiral?
Next week is relatively quiet for eurozone data, but with a mass of UK data it is a week where EUR/GBP could well be volatile.
GBP/EUR past year
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