Euro exchange rates have remained fairly stable against most majors in trading this week with the most volatility seen against Sterling following more Brexit speeches and information.
The European Central Bank interest rate decision and subsequent talks afterwards did weaken off Euro exchange rates ever so slightly as head of the European Central Bank Mario Draghi commented that no discussions were made around slowing down their QE (Quantitative Easing) program in April.
QE is seen as negative for a currency and the fact that this will be remaining at current levels did weaken off the Euro over the course of yesterday afternoon but in true Euro style it stood up and fought back in trading this morning.
Where will Euro exchange rates head this year?
Personally I feel that Euro exchange rates will have a fairly poor year coming up, there are so many potential negatives out there for the Euro both in a political and economic sense. Through the year ahead we have referendums, elections, banking and debt issues for those in the single currency to worry about , and I feel that the current situation with Brexit in the U.K is overshadowing what essentially are large problems that are not hitting the front pages.
Throughout the year ahead I feel that these problems will become larger and be covered a lot more in the press and the Euro may well struggle as a consequence of that. I personally would not be surprised that once the issues surrounding article 50, brexit and Trump are off the front pages (assuming that this happens) Euro exchange rates may easily drop below parity against the USD and to 0.80 (1.25) or worse against the Pound.
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