EUR-
In a morning that has so far been rife with angst following concern over the stability of the US small bank system , the Euro has managed to be the best performer in the FX space. Much of this will comes as a result of today's Eurozone data suggesting a continued resilience in the inflation data from the continent.
However, it is also possible that in the significant flight to safety shown by traders this morning EUR could also be rallying off the back of this.
Indeed, French PM Lecornu will have helped shift this dial following his survival of two no-confidence votes earlier in the week and seemingly building a good consensus on passing a budget after months of delay. The price for this progress seems to have been a putting off of Macron's pensions reforms that raised the age of retirement from 62 to 64, with this costing a total of 400 million Euros in its first year of delay and then 1.2 billion EUR in its second, a hefty price to start a budget off on.
*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer on check online for a live quote
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