The euro US dollar exchange rate dropped to a low of US$1.0947 on Wednesday. The pair ended the session not far above this and also not far from the multi-year low set in September of US$1.0926. The euro has been under pressure after disappointing data releases earlier in the week. German manufacturing PMI figures were worryingly weak and whilst German IFO business sentiment moderately improved, the expectations element of the index was surprisingly downbeat. Today euro investors will stay focused on the eurozone economic calendar with the release of the European Central Bank’s monthly economic bulletin. A speech by ... (full story)