You've landed on our UK website.
Click here to visit our USA website.

If you are having difficulty locating the information you require, we're here to help. Just get in touch and we will do our best to assist you.

Weekly Roundup: Euro dented by Ukraine concerns

currency-newsWeekly Roundup: Euro dented by Ukraine concerns
The euro initially firmed last week. The single currency being underpinned by some hawkish comments from European Central Bank (ECB) policymakers.

Speaking in the first half of the week ECB President Christine Lagarde and her colleagues indicated the bank intends to continue hiking interest rates for the foreseeable future.

The discovery of several leaks in the Nord Stream pipeline saw the single currency come under pressure in the middle of the week. Reports that the leaks were acts of deliberate sabotage spooked EUR investors.

Friday saw the publication of the Eurozone’s consumer price index. Which reported Eurozone inflation rocketed to a new record high of 10% in September and bolstered ECB rate hike bets.

However, this was overshadowed by Vladimir Putin’s illegal annexation of Ukrainian territories. This stoked fears of an escalation of the war in Ukraine and weighed on EUR exchange rates at the end of the week.

Looking ahead, Germany’s latest industrial releases will be a key focus for EUR investors this week, with an expected slump in factory orders in August potentially dragging on the euro.
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

Check our exchange rate

Thanks, we'll be in touch.

Check your inbox - one of our currency experts will be in touch to complete your quote.

If you want see our online exchange rates straight away, simply register online & log in.