The euro crept up to a two week high against the dollar yesterday. This was due to improved Economic Sentiment data, as well as anticipation surrounding the Federal Reserve’s monthly meeting on Wednesday, which ensured that the dollar remained weak.
The euro also gained on a weakened pound, despite a panel of German economic advisers slashing the growth forecast for this year to 0.8%. This was mainly a result of Speaker John Bercow ruling out a third meaningful vote, and casting further uncertainty around a possible Brexit deal.
Euro traders will be looking ahead to the publication of the German Producer Price Index figures for February, which are released today. Any signs of an improvement to these figures could provide some uplift for the euro.
