The euro is strong against the pound but weak against the dollar this morning, mainly due to dollar strength.
However, uncertainty ahead of the European Central Bank’s press conference tomorrow is also weighing on the euro. This is the first-time officials will convene after publishing the findings of their strategic review, in which they changed their inflation target from ‘just below 2%’ to around 2%.
There are expectations that President of the ECB, Christine Lagarde, will take a ‘dovish’ or cautious tone tomorrow, which could weigh on the euro.
