Poor economic data from Germany earlier this morning has helped to push the euro down against sterling. German factory orders came in at -2.2%, quite a way below the expected -0.1%. Eurozone retail sales yesterday also showed worse-than-expected results for month-on-month figures, although is still a year-on-year improvement, so this could be a seasonal blip.
A Reuters poll this morning showed that a majority of economists who responded thought that the ECB will either cut its deposit rate or pledge to keep rates low for longer, amid pressure to help boost growth with a potential oncoming global slowdown.
