Euro is not out of the woods while under 1.0940, likely to consolidate around 1.0850 EUR EURUSD $EUR $EURUSD
. US stocks turned negative after being up 1%. Some positive corporate results were offset by expectations of more tightening from the Federal Reserve.
Inflation numbers are “very high” in the Eurozone, mentioned European Central Bank President Christine Lagarde. According to her, inflation is expected to double the target by year-end. Regarding, Lagarde said inflation must be address “in a gradual way”. Her comments offset previous ECB talk from Luis de Guindos, Vice-president of the central bank, who said the stimulus programme should end in July and interest rates could rise in July or later.
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