US Dollar eases a little
Last week the markets were dominated by further changes in Fed policy expectations following more dovish comments from Ben Bernanke, the dollar softening a little on the back of this.
British construction output was flat in May compared with April, raising the question as to whether the UK’s GDP growth has really picked up any speed. Output in May dropped 4.8% on the previous year.
According to Eurostat, industrial production across the Eurozone fell by 0.3% in May as Germany recorded its first monthly fall in output this year. The decline in activity was driven by durable goods and capital goods leaving total production down 1.3%. Activity in France fell back after a strong April while production in Italy and Spain moved back into positive territory.
EUR/USD hit a high of $1.3101 before easing back to $1.3030. GBP/USD is currently trading around $1.5060, while GBP/EUR seems to have consolidated for the time being around €1.1550.