The euro also strengthened against the dollar yesterday, hitting key levels as the greenback weakened against most major currencies. The euro was weaker against the pound, however, possibly due to coronavirus worries. Infection rates are rising again in some European countries.
Figures yesterday showed that Eurozone factory output was strong in Europe. However, data over the next few months will show if these rising infection rates are having an impact on the European economy.
Germany’s retail sales unexpectedly fell by 0.9% month-on-month in July 2020, but increased 4.2% year-on-year.
