The EUR experienced moderately positive results in yesterday's trading sessions. Both significant economic events released from the euro zone yesterday proved bullish for the 17-nation common currency.
The EUR/USD moved upward, climbing temporarily above 1.37 before retracing some of its movement. The pair currently trades just under 1.3690 as of this morning. The EUR/GBP underwent a rapid bullish run following Britain's publication of a less-than-forecast GDP report.
After a 0.5% decline in the quarterly Prelim GDP report from the UK, the pound experienced a strong bearish session, falling greatly against all of its currency counterparts. The news trickled into European trading by holding the euro steady against a number of its regional rivals. The Scandinavian currencies outpaced the EUR while the EUR/CHF finished the day even.
With most of today's economic indicators coming out of Britain and the United States there is a good chance the EUR will take a back seat to today's movements. However, additional negative indications from Britain could keep the EUR's gains to a minimum as the region suffers under further economic woes.