Euro Weakens with USD Rally Despite Higher Eurozone Inflation
NBC National Bank Canada's analysts note the euro has declined alongside the broad USD rally, even as Eurozone inflation reaccelerates and pushes the ECB toward a more hawkish stance.
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According to NBC National Bank Canada's Stéfane Marion and Kyle Dahms, the euro has recently weakened alongside the broad U.S. dollar rally. This movement comes despite a reacceleration of Eurozone inflation, which has pushed the European Central Bank toward a more hawkish policy stance. The analysts suggest that the euro's direction remains dependent on moderation in the dollar's strength.
Source: FXStreet Forex News