Swing Trade: EURUSD

EUR/USD: US Consumer Price Index

The Greenback weakened against the single European currency, following the release of US consumer price index data. The EUR/USD currency pair soared 25 base points, or 0.20%, reaching the intraday's high of 1.2367.

The Bureau of Labour Statistics revealed on Tuesday that February consumer price index hit the forecasts, rising at a 0.2% pace, following the 0.5% upmove recorded in the previous month. The US Labour Department raised concerns that inflation is likely to accelerate, and, as a result, the Fed could hike interest rates faster than anticipated. Investors are carefully watching the situation in the market and looking for clues on how quickly the rates could be raised.

EURUSD

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