FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman today’s data did not help the euro.
"Today’s data did not help the euro. German factory orders came in at -1.7% m/m in May vs. -1.1% expected and 3.1% in April."
"Also of note, the euro-sterling cross made a decisive break below the 0.80 level this week, returning to levels not seen since late 2012. On the other hand, Italy’s Istat published the budget figures today showing that the Q1 deficit shrank to 6.6% from 7.3% in Q1 of last year."