A quiet session so far this Wednesday in which the Euro is showing modest gains versus the Dollar and other safe havens. Investor bias towards the single currency appears to be positive, reflecting hopes of a quick economic recovery as well as greater harmony between the different member states in the aftermath of the pandemic.
Tomorrow’s Eurogroup meeting will be one to watch; the finance ministers of the EU member states will meet and vote to choose the replacement for the outgoing president Mario Centeno. The choice will either confirm the current perception of a more peaceful coexistence between north and south, which will be positive for the Euro, or reopen old wounds that will weigh down on the single currency.
