JUST FOR FUN

The Euro continues to trade on either side of 1.1000 against the US dollar despite a further rise in short-dated US Treasury yields. Last Friday’s record high Euro Area headline inflation print for March of 7.5% is now prompting thoughts that the ECB may have to tighten monetary policy quicker than originally thought.
The daily EUR/USD chart shows the Euro continuing to battle against a strong US dollar with the pair trading on either side of 1.1000. A cluster of prior lows between 1.0945 and 1.0970 provide short-term support for the pair while initial resistance is seen at 1.1120.