Euro is heading lower today, thanks in part to weaker economic data and lower gold prices. Also contributing to a lower euro is the concern brought about by a potential UK exit from the European Union.
Euro is mostly down against its major counterparts today, with its only substantial gains against the UK pound.
The latest eurozone composite PMI shows that business activity is at a 13-month low in February. Concerns that the eurozone economy isn’t ready to pick up the pace are weighing on the 19-nation currency. Many expect that, at some point, the ECB really will have to match its talk with policy and take steps to ease the situation. Also weighing on the euro is the possibility of a Brexit. While the fears of a UK exit from the European Union are w
Also weighing on the euro is the possibility of a Brexit. While the fears of a UK exit from the European Union are having a greater impact on the sterling, the euro is still feeling some of the pain. Concerns that issues would spill over into the eurozone are having an effect.
At 15:39 GMT EUR/USD is down to 1.1017 from the open at 1.1121. EUR/GBP is up to 0.7806 from the open at 0.7795. EUR/JPY is down to 124.6160 from the open at 125.0950.
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