Evidence that the economy is faring better than expected has prompted a slight recovery in the pound, which has been knocked by concerns about Britain's mounting debts and uncertainty linked to the election outcome. However, do be aware the continued political uncertainty will continue to affect rates over the remainder of the month.
Euro may weaken further?
Portugal may need to take additional steps to cut its budget deficit if economic conditions worsen, the European Commission was warned. European Commissioner for Economic Policy Olli Rehn said Portugal's planned budget cuts were "ambitious", but may have to be extended this year. Further problems in the EU could cause the Euro to weaken.
Todays Data
Following Trade Balance data from the UK and US earlier in the week, today is the EU’s turn. There is also a monthly report from the EU, and some jobless data from the USA.
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