Turkish weakening impacts Eurozone
Turkish economic turmoil has greatly weakened the Euro last week, causing a decline against the Pound. Euro traders have panicked on news of a Turkish Lira crash, which has sparked broader fears about Eurozone banks suffering as a result. This slip in the EUR/GBP exchange rate is down to current concerns about what impact Turkey’s weakened currency will have on Eurozone banks. After a week of Brexit-linked losses, the Pound (GBP) has finally risen against the Euro (EUR) thanks to broadly supportive domestic data.