The euro remained largely unchanged in a quiet day for data yesterday. However it remains at its strongest against the pound since early February 2021 (when the pound began pulling away due to its better strategy on vaccines). It weakened to below parity against the US dollar midday yesterday but regained strength in the afternoon session.
Construction output in the eurozone in July increased by 1.5%, much better than the 1.2% drop expected.
There were also speeches by several members of the European Central Bank’s interest rate setters, and ECB President Christine Lagarde will speak later today.
This morning we have had Producer Price Inflation (PPI) from Germany, which shot up to 7.9%, from 5.3% last month.
EUR/GBP past year
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