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 softens as markets brace for June ECB policy action

currency-newsWeekly roundup: Euro softens as markets brace for June ECB policy action
The release of the European Central Bank’s (ECB) most recent set of meeting minutes put a dampener on the euro as the chances of further policy action picked up sharply.

The single currency was left on the back foot against its rivals as policymakers signalled a willingness to loosen monetary policy further in June.

Even though May’s Eurozone services PMIs saw a solid rebound from the previous month’s dismal performance, this was not enough to offer EUR exchange rates any particular boost.

The relative strength of the US dollar also limited the appeal of the euro, thanks to the negative correlation of the EUR/USD exchange rate.

Fresh commentary from ECB policymakers could put additional pressure on the single currency in the days ahead if signs continue to point towards a dovish move.

May’s Eurozone business confidence index may drive some additional volatility for EUR exchange rates as markets look for signs of improvement.

Unless business and consumer sentiment show signs of picking up in the face of easing lockdown conditions, the mood towards the euro could remain bearish.
Currencies Direct

Currencies Direct

Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.

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.