It was a strong week for the euro against the pound last week, hitting almost two-year highs on Friday as the British economy showed further contraction. The single currency has dipped against the pound again this morning, although how long this will last remains to be seen.
Concerns remain about Italy’s future economic path. Matteo Salvini, leader of right-wing League, has filed a motion of no confidence in the Prime Minister. Salvini is a Eurosceptic, but has made few explicit pronouncements on what direction he would take Italy’s ailing economy if he were to become Prime Minister himself. His party is split between those who wish to work within the current situation, and those who want to exit the eurozone. What is known is that Salvini wants an expansionary budget, which the European Union has strongly cautioned against.
Today is quite quiet for economic releases, but, later this week, we will see German inflation, economic sentiment and GDP figures, as well as GDP figures for the eurozone as a whole.
