Home » Currency Note » Currency Note » Currency Note EUR » EUR: Markets wait for Brexit breakthrough

All eyes are looking forward this week, as the big event for the euro, like the pound, will be the meaningful vote on the Brexit deal in the House of Commons. At the moment, it looks unlikely that the withdrawal agreement will be much changed – and so it could well be a defeat for the deal. It’s going to be a volatile week for the euro and sterling alike.

The euro dropped on Thursday to its lowest rate since June 2017 against the dollar, as the ECB postponed rate hikes until 2020 at the latest. The central bank also announced a continuation of cheap loans to help stabilise European banks and downgraded its economic forecasts in a sign of the troubles surrounding the Eurozone economy.

This week is relatively quiet for economic releases, although it will be interesting to see the core inflation rate on Friday, forecast to edge lower by one point to 1.1%.

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