Slow day for the euro ensures it loses ground against sterling and the US dollar

The euro had a disappointing start to the week yesterday, struggling against both sterling and the US dollar.

The British currency fought back against the impressive gains the euro had made as the day went on. The lack of data releases, and indeed news, from the Eurozone also caused the single currency to fall back against number one trading partner the US dollar – despite a distinct lack of data from America as well.

Today there is no data out or major news is to be released, so we expect another quiet day for the euro unless news from elsewhere influences it.