A poor showing from the EZ services sector and falling retail sales drove the Euro lower in London and could give the ECB the ammunition it needs to kick the currency even lower still.
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Services industry data disappointed the market for August but remains consistent with a solid rate of quarterly GDP growth, according to IHS Markit.
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Central banks are likely to set the tone for both the British Pound and Euro over coming weeks, and according to one analyst, this offers the GBP/EUR exchange rate potential relief.
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The Euro is rising in most pairs at the start of the new trading week as fears of a geopolitical conflagration ratchet up.
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Euro to US Dollar losing ground as new week begins - ECB meeting on Thursday.
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Pound Sterling might have bottomed against the Euro and may be starting a new trend higher but our studies suggest the recovery will likely be limited.
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The ECB is powerless to keep a lid on the exchange rate beyond the very short term while economic fundamentals vindicate the common currency for its upward climb.
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