EUR/USD comes under pressure near 1.1100 ahead of ECB, US CPI By pabspiovano EURUSD Currencies Majors ECB
The ECB will release its updated Macroeconomic Projections.Following the acute upside on Wednesday,EUR/USD appears capped by 1.1100
The downtick in the spot came hand in hand with the retracement in yields of the German 10y Bund to the 0.17% area after climbing as high as the 0.21% zone in the previous session. Same performance is seen from US yields across the curve, trading a tad lower following Wednesday’s rebound. : Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year. Presidential elections in France in April. Geopolitical concerns from the Russia-Ukraine conflict.So far, spot is retreating 0.31% at 1.1042 and faces the next up barrier at 1.1095 followed by 1.1188 and finally 1.1283 . On the other hand, a drop below 1.0805 would target 1.0766 en route to 1.0727 .
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