The EUR/USD pair remains on the defensive near 1.0740 during the early Asian session on Thursday.
EUR/USD remains under pressure around 1.0740 on the stronger USD on Thursday. The ECB is widely expected to leave interest rates unchanged at its April meeting on Thursday. The US CPI figure rose 0.4% MoM in March, compared with the 0.3% gain estimated. An unexpected rise in US CPI inflation data in March propelled the US Dollar to yearly highs and weighed on the major pair.
The Greenback rose to fresh yearly highs north of 105.30 after the data. The US Consumer Price Index rose 0.4% MoM in March, compared with the 0.3% gain estimated. On an annual basis, the CPI climbed 3.5% YoY versus the expectation of a 3.4% rise, according to the Labor Department on Wednesday. The Core CPI figure, excluding volatile food and energy, jumped 0.4% MoM in March, compared with the market consensus of a 0.3% rise. Meanwhile, the Core figure grew by 3.
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