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Euro rates are today higher across the board thanks to an improving economic picture in Europe which could challenge the notion that the euro will underperform in 2014.
The euro sterling exchange rate has headed higher on Thursday morning, a strong response to yesterday's hefty declines.
The British pound has fallen back against the Euro on Thursday morning, however forecasters suggest further gains remain possible for the UK currency.
The euro dollar exchange rate has seen its correction lower halt and consolidation appears to be the order of the day. Support was afforded to the euro thanks to an impressively well subscribed Spanish bond auction.
The euro rate is today feeling the pressure as a lack of data ensures there is little reason to back the shared currency.
The British pound has enjoyed a morning of good fortune all thanks to news that the UK's unemployment picture is improving at a rapid pace and forecasts for the pound suggest further gains lie ahead.
For the past few sessions the pound euro exchange rate has been trading marginally above the 1.21 mark. However, with confidence continuing to build regarding the UK outlook, we could see the pound make a move towards 1.22.
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