Elsewhere, we are seeing both sterling and also the single currency weaker in early European trade. Some are pointing to the Dutch rejection of the EU/Ukraine trade deal in yesterday’s referendum, which has played into the hands of those campaigning for the UK to leave the EU ahead of June’s UK referendum. We’ve also had comments from ECB’s Constancio who said that the ECB would “do whatever it takes” to achieve price stability. I’ve heard those words before somewhere”¦ and they are taking the shine from the single currency in early trading, which peaked at 1.1454 earlier. For today, the ECB will publish the account (not minutes) of their policy meeting, where various further measures were introduced. There is perhaps greater risk than normal to this, should it give a different spin on some of the measures announced last month (11:30 GMT). Thereafter, there is the usual weekly claims data in the US.
Further reading:
Sell the dollar now, ask questions later – Live Market Open from 7:00 GMT
Long-term upside possible for EUR/USD, USD/JPY down to 100, 1.14 to 1.40 the parameters for USD/CAD