It’s been a quiet day for the EUR, with little volatility against both the USD and AUD. GBP/EUR rates dropped slightly but remained relatively flat, despite the raft of key economic data that was released for the UK today. UK unemployment figures came out as expected and the Bank of England (BoE) minutes showed a unanimous vote to keep interest rates on hold, with no further rounds of Quantitative Easing at this time. This information did little to sway investors confidence and the EUR struggled to make any sort of impact against GBP during Wednesday’s trading.
We also saw UK Chancellor George Osbourne address parliament with the latest budget and although entertaining in parts, it had little impact on the FX markets and it may be that the EUR recent run may be running out of steam.
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