EUR/USD rises after registering minor losses in the previous day, trading around 1.1600 during the European hours on Wednesday. The pair holds ground as the Euro (EUR) remains stronger following the release of Eurozone Harmonized Index of Consumer Prices (HICP) data for July. Eurozone annual inflation rose to 2.9% in July from 2.8% in June, matching preliminary estimates and staying above the European Central Bank’s 2.0% target. Core inflation, excluding food and energy, also ticked up to 2.5% from 2.4%.
El Niño risks keep ECB hawkish as Eurozone inflation seen near 3%
Analysts at ING argue that the recent surge in energy costs is reinforcing…
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