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EU’s Tusk: EU28 leaders have agreed on conclusions including migration

The European Council (EUCO) President Donald Tusk took to Twitter to announce that the EU 28 leaders have agreed on conclusions including migration.

The common currency caught a fresh bid-wave on the above headlines, sending the EUR/USD pair sharply higher beyond the 1.16 handle. 

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Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.