For the euro, the key factor today is not only pressure from higher energy prices, but also the market?s reassessment of ECB expectations. Rising oil prices are again increasing inflation risks in the eurozone, reducing the likelihood of an overly soft stance from the central bank. The regional economy remains sensitive to import costs, but the inflation channel may temporarily support the euro.

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Trading idea: BUY 1.1400, SL 1.1370, TP 1.1490