💲USD retreats ahead of the ECB and inflation

EURUSD pair is clearly rebounding moments before the ECB decision on interest rates and the QE program as well as inflation data from the United States. The ECB's decision will take place at 12:45 pm BST, while the US CPI inflation and the ECB conference at 13:30 pm BST. In the case of the ECB, no changes are expected, but the discussion about limiting the QE program may begin. In the case of US inflation data, the reading is expected at 4.7% YoY compared to previous month 4.2%, although some analysts expect reading around 5.0%.

EURUSD pair moves towards 1.2200 along with rising TNOTE, which means lower yields. TNOTE could theoretically react sharply to high inflation figures. Source: xStation5