The single currency fell against all other currencies yesterday – except sterling. The losses against most currencies were as much as 1%.
The main reason was possibly Germany’s Balance of Trade for August, which fell to its lowest since 1992, just €0.6bn against a forecast of €7.3bn. This morning, German factory orders came in at -2.4%, considerably worse than the previous month and expectations.
There were no great surprises in the mass of PMI data across the eurozone. Tomorrow there will be retail sales across the eurozone.
EUR/GBP past year
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