The easing of the Euro was mainly due to the ECB report showing that money supply growth had slowed more than expected in March, which following the bad data of earlier in the week caused dealers once again to sell the single currency.
The dollar benefitted again against the Euro with cable remaining steady. The dollar traded higher against nearly all other majors as analysts hinted that the Fed may be getting closer to halting their easing of interest rates cycle for the time being. There are increasing worries worldwide about the rise in oil price again as news of disruptions in Nigeria and the North sea added to the increasing tension between the US and Iran.
The Euro has come back slightly this morning after the release of the German GFK came in higher than expected after last months revised figure. There is a disctinct lack of data elsewhere around the globe but in the UK we do have the release of Nationwide house prices for April.