The euro is strong this morning, benefiting from the pound’s weakness and hitting three month highs against the dollar. This comes as the dollar is still suffering due to the Federal Reserve’s stance on interest rates and expectations of possible rate cuts this year.
The euro strengthened on Friday afternoon as PMI data in the Eurozone showed no further signs of deterioration. Despite business activity picking up and bond yields edging up as a result, the data was not strong enough to rule out expected interest rate cuts.
