Euro bounce pauses ahead of U.S. inflation

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – A resurgent euro was hunkered just short of strong resistance levels on Tuesday as traders awaited U.S. inflation data due later in the week, wary it could trigger gains in the dollar. The common currency leapt 2.7% last week after a hawkish shift in tone at the European Central Bank. It has held gains but has been unable to beat resistance around $1.1483 even as European bond yields have leapt and last bought $1.1441. Stunningly strong U.S. labour data last week has put extra focus on inflation – forecast at a four-decade high 7.3% – in the lead up to Ma…

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