The euro is up against both the pound and the dollar this morning, as poor rate expectations from the US and poor economic releases from the UK keep both low.
Nonetheless, it is still a mixed week for the euro, with Italian unemployment coming in slightly above expectations, and differing expectations for the ECB meeting today. We might see rate hikes pushed back again beyond the end of this year, or possibly a release of the terms of the ECB’s new ‘targeted long-term refinancing options’, aimed at incentivising bank to lend.
