The euro may have closed Friday up against the pound, but it has been trading in a narrow range, held down by poor data releases. The Germany economy shrank by 2.2% in Q1, figures early on Friday showed, while the Eurozone economy as a whole contracted by 3.8% quarter-on-quarter.
Disputes over the ECB’s quantitative easing programme continue, with the ECB stating that it is not subject to the German Constitutional Court, only to European courts, following a ruling by the former that it breaches Germany’s constitution.
