The possibility of the UK leaving the EU begins to negatively affect the euro

Tuesday was a mixed day for the euro; it managed to push to fresh 12 month highs against sterling as the continued speculation about the UK’s EU Referendum weighed heavily on the pound, but this has also begun to affect the euro negatively in some ways. Gross Domestic Product (GDP) figures for Germany were as expected, at 0.3% growth for the quarter, but IFO business sentiment data was worse than forecast – falling from 106.7 to 105.7.

Wednesday is expected to be a quiet day for the Eurozone, with the only piece of data released, consumer confidence from France, expected to remain at the previous figure at 97.