Euro exchange rates lose further ground against the Dollar and retract a little against Sterling

Euro exchange rates once again posted slight losses against many majors in trading today, with further losses against the Dollar and a slight drop off against the Pound. The Euro is actually now trading at a slight loss against the Dollar now this calendar year after posting a 4% gain against the Dollar throughout April and early May. The Dollar is firing on all cylinders at the moment with the U.S economy performing well and further interest rate hikes on the horizon this year.

We are starting to see a number of major banks projecting further losses for the Euro against Sterling and the Dollar but as many regular readers will be aware the Euro does seem to have a particularly strong backbone and is fantastic at holding its own or fighting back when put under severe pressure.

Tomorrow we have the release of European inflation figures and initial analyst predictions show that there are no big surprises expected, we do also have head of the European Central Bank Mario Draghi speaking at 13:00pm BST and due to the fact that recent comments from other members of the ECB have led to a little uncertainty over the Euro, he may make a move to mop this uncertainty up and settle the markets which could give the Euro a little strength or he may confirm other ECB members indications.

We do not have a huge amount of economic data on Thursday but we do have Trade Balance figures for the Eurozone on Friday, all in all it appears to be a quiet end to the week for Euro data.

If you are in the position that you need to carry out a currency exchange involving Euros then you are more than welcome to get in touch with me and I will be  happy to help you personally. The brokerage I work for has been operating for 18 years now and we pride ourselves on getting clients not only the best exchange rates on the market but also offering the very highest level of customer service too.

If you would like to discuss a specific scenario or exchange with me then feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch personally.