17 February 2010

Euro gains after Weeks of Sell

Has anti-euro sentiment gone too far in recent weeks? Some currency exchange analysts seem to think so; and as if by magic the euro climbed on Tuesday - is risk appetite back among investors?

Greece's fiscal problems have really given the euro what some have described as a fair battering over the last few weeks. But are currency traders cautiously heading back to the eurozone single currency?

Meanwhile there is a lot of key data being announced this week, much of which will surely have an affect on the pound.

Yesterday, CPI figures were released showing that inflation rocketed to 3.5%, well above the 2% target. This didn't seem to bother markets much, though BoE minutes and retail sales figures to be announced might prove important for the pound. Will it retreat or wobble under pressure?

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