With both the euro and sterling sliding against the dollar, Michael Hewson suggests that the movements may be influenced more heavily by US data than by ECB easing or UK economic strength.
- The euro has broken below support at $1.3580 and future direction may be determined by US figures, with retail sales on Thursday remaining key
- UK economic data has looked good recently, but sterling has been in a downtrend since May and needs to move above $1.6840 to target $1.70
- The FTSE 100 continues to underperform its peers but this may not be as bearish as some might think
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Video content by Michael Hewson of CMC Markets.
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