The euro had a mixed day yesterday, strengthening against USD – although all those gains have been wiped off this morning as it continues its two-month slide against the dollar.
The recent pattern has been similar against sterling, although here the slide has been longer term, since last September.
Yesterday’s Ifo Business Climate reading for Germany was slightly down on expectations. It’s a quiet period for data, although we’ll have French unemployment today (what will be the result of Macron’s form line of vaccine refuseniks?) and the biggest reading of the week, business confidence, tomorrow and Thursday.
