020 7898 0500The euro weakened on Wednesday against the majority of currencies after data showing that euro area inflation was revised lower for August added to fears that the European Central Bank (ECB) may have to scale up its quantitative easing programme in the coming months on top of the €60 billion-a-month programme that is already in place. ECB Vice President Vitor Constancio was reported as saying that the bank is still looking at the possibility to purchase more assets as its quantitative easing has been relatively small in comparison to that of other major economies.
Today there is little out on the data side of things, so the majority of markets will be focusing on the Federal Reserve meeting in the US. This could have a significant effect on the euro as the euro and the US dollar are the two most-traded currencies on the planet.
