The euro dollar exchange rate is today 0.035% lower with EUR USD at 1.4194. The euro pound exchange rate is today 0.091% lower with EUR GBP at 0.8724. UBS currency analysts have this morning maintained that their outlook for the euro dollar exchange rate is neutral. "A break above 1.4454 would trigger resumption of the bull trend and open 1.4536/78 resistance area. Support lies at 1.4134," say UBS. The euro pound exchange rate outlook is however bearish; "A decline through 0.8705 would pave the way for losses towards 0.8657. Resistance is at 0.8806." Weak economic performance in the Eurozone, coupled with weak confidence in the Southern European bond market are contributing significantly to the weakness in the euro exchange rate. The manufacturing PMIs were released across parts of Europe and painted a mixed picture. While French and Italian numbers were stronger than the flash estimates, the Spanish PMI components were all down, with both domestic and export orders below 50. UBS say that their European economist note that this points towards a further slowdown in Spanish industrial production.

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