The euro had a torrid day yesterday, falling to a 13-month low against GBP and four-month low against the US dollar.
The main reason is the worsening situation in the eurozone as Covid’s “third wave” gathers pace with the more infectious variant first discovered in south-east England.
With no data – positive or otherwise – emerging the single currency was left to sink on news of Europe’s biggest economies failing to deal effectively with either vaccines or lockdowns.
However, that could change today, as over the course of the morning there will be a procession of consumer and business confidence data for March from across the eurozone, while tomorrow it’s the turn of the inflation and employment data.
