Home » Currency Note » Currency Note » Currency Note EUR » EUR: Euro down against pound amid Brexit delays and economic woes

The euro weakened against the pound yesterday afternoon, following Theresa May’s statement on the possibility of a short extension to Article 50, hitting a low of 0.8586.

The Eurozone’s economic worries continue, as the GfK economic expectations sub-index dropped for the fifth time in a row, reaching an almost-two-year low of 4.2, from 10.7 in January. Consumers are showing more caution, with propensity to buy declining to 53.6 points from 57.6 points.

Today is an important day for economic releases, with the services sentiment, consumer confidence and business climate indexes released, most of which are expected to have weakened slightly.

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