Hard Times Ahead in Europe

andres del risco


The Euro fell yesterday against most major currencies after data indicated that manufacturing activity in Euro zone, Germany and France deteriorated for February.

There appears to be a strengthening belief from the man in the street that in coming months times will be hard across Europe.

Inflation fell to its lowest level in Germany and this will add to the Euro's woes. This is likely to further deepen issues for the Euro Zone, with the threat of deflation looming.

In stark contrast to the weakness seen in Euro zone’s manufacturing activity for February, the CBI in the UK indicated that British factory orders rebounded in January.

When considering whether to hold Euros or Sterling currently, the latest set of data certainly appears to favour Sterling, leaving investors to consider whether those who are holding Euros should continue to do so. In coming months it could well be the case that the exchange rate from Sterling to Euro will result in losses for those who are holding Euros.

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