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Euro hovering just shy of 1.20
Posted 7 hours agoSharePrint
EUR/USD continues to show limited movement, as it remains just below the symbolic 1.20 level. Currently, the pair is trading at 1.1981, up 0.14% on the day. The euro continues to put pressure on this line, which has held since March 4th.
Inflation in the eurozone remains below the ECB target of around 2%, but pent-up demand after months of lockdowns across western Europe means that inflation is moving higher. Eurozone CPI (YoY) rose 1.3% in March, up from 0.9% a month earlier.
Eurozone growth will be positive in Q1, and the ECB is projecting that GDP gained 1.7% from January-March. Still, a sluggish vaccine rollout in the EU has stunted growth and could weigh on the euro as well. The EU bet on the AstraZeneca vaccine to supply to its residents, and this move has backfired badly, with nagging concerns that the vaccine may be linked to blood clots. On Wednesday, Denmark became the first EU member to ban AstraZeneca vaccin