The Euro continues to trade on either side of 1.1000 against the US dollar despite a further rise in short-dated US Treasury yields. Get your market update from nickcawley1 here:
despite a further rise in short-dated US Treasury yields. Last Friday’s record high Euro Area headline inflation print for March of 7.5% is now prompting thoughts that the ECB may have to tighten monetary policy quicker than originally thought.The closely watched two-year US Treasury yield is closing in on 2.50%, a fresh three-year high, as expectations grow that the next two US interest rate hikes will be in increments of 50 basis points as the Fed seeks to quell rampant US inflation.
The latest Euro Area inflation data, released last Friday, showed annual headline inflation in the area hitting a record high of 7.5%, driven by soaring fuel andprices. The core reading also rose to 3% from 2.7% in February. The European Central Bank is now under pressure to react to this surge in price pressures and may look to signal that it will tighten monetary policy sooner rather than later to help squash inflation.
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