The Pound has had a very good run vs the Euro over the last few weeks with 1.15 hit briefly during March and I think we could see further gains coming for Sterling against the single currency.
The transitional deal between the UK and the European Union appears to have been agreed between both parties and although the Irish border is still not yet full sorted I think this will only be a matter of time and once agreed I think this could give the Pound a well needed boost.
Eurozone Retail Sales came out disappointing for February and although they were higher than last month they were still well below the consensus figure.
There are still a lot of problems politically in the Eurozone including Italy where the government has not yet been formally agreed.
Indeed, Italy is still in the midst of a hung parliament and when this happened in the UK at the last general election the Pound weakened against the Euro and I think this could cause further problems for the single currency.
The Eurozone appears to have had a good week in terms of data including the best unemployment levels in almost 10 years as well as rising inflation but this has not been reflected in the value of the Euro.
With inflation rising this could cause the European Central bank to consider ending their QE programme by autumn and typically this would have helped to strengthen the Euro but with the political problems in Italy this is keeping the Euro under pressure.
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