Euro weakened against the pound yesterday, with optimism over the UK election helping to keep sterling strong. It was quite quiet for economic releases, although Eurozone PPI showed its steepest annual decrease since 2016.
Meanwhile, the US has threatened tariffs on $2.4 billion worth of French goods. In response, Economy Minister Bruno Le Maire said that he was ‘in contact yesterday with the European Union to ensure that if there are new American tariffs, there will be a European response, a strong response.’ Goods include French produce like Roquefort cheese, yoghurt and sparkling wine.
Today will be much busier, with services and composite PMI for the eurozone, France, Spain and Italy, all expected to hold steady or show an improvement.
