EURUSD pair rebounded sharply in recent minutes due to the stronger euro. Additionally, we see a recovery on the side of European bond yields.
The ECB consensus is leaning towards a possible hike this year amid likely strong inflation forecasts. The consensus is formed before the ECB meeting on March 10, during which a potential decision to end the QE program in September is to be reached. This move could allow for an interest rate hike in the last part of this year.
EURUSD is minimizing the recent losses. Source: xStation5
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