020 7898 0500The euro had yet another disastrous day against the all currencies on Tuesday. It sunk more than 1% and to its lowest level since April 2003 against the US dollar, thanks to pressure from the huge gap in the European Central Bank and the Federal Reserve’s monetary policy outlook. The Eurozone is just over a day into their new quantitative easing program and we have seen an immediate fall from this – breaking the 1.40 barrier against sterling for the first time since 2007. The only good news for the Eurozone was the surprise rise in French industrial output of 0.4 % in January, compared to forecasts of a -0.3% – but, as can be seen, this had very little impact for the suffering euro.
