Monday was not the best start of the week for the euro against the backdrop of a significant expansion of peripheral spreads in the debt markets, which led to the renewal of annual maxima in Ireland. Greece and Portugal also experienced significant growth in profitability. While the euro drop such fears in recent weeks, there were signs that recent events may slightly change the situation, not least because of the overall increase in demand for risk during the first trading day of the month. In addition, rising interest rates elsewhere also emphasizes the relative dynamics of other currencies. Against the euro in the context of diversification of reserves remains unchanged and it will give him support. Final data on industrial PMI on Tuesday, were generally stronger than preliminary. The indicator for the euro area was revised to 54.1 to 54.6 and it gives the EUR / USD some support in early London trading. Level of 1.40 remains in the field of view with the decision of the Federal Reserve, which is likely to be the factor that determines whether we are steadily moving higher.
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