Another record breaking day for the euro as it broke above $1.56 against the dollar yesterday. Poor data from the US helped the single currency break new highs as the relentless march of the euro continues. Against the pound, the euro gained about 20 pips from the previous days session and the euro looks to finish the week breaking new highs against a few majors. This morning we have seen German Consumer Price Index figures come in line with expectations at a rise of 0.5%. Food and energy have been among the largest contributors to push inflation up.
Data at 10.00am: Eurozone CPI MoM expected at 0.3% from –0.4% previous.
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