The Euro has mostly held onto recent gains as the European Central Bank’s Isabel Schnabel reiterated hawkish weekend comments by fellow ECB board member and Bundesbank President Joachim Nagel over the weekend.
The single currency was further aided by the backdrop of possible good news in the Ukraine conflict.
Overall, it is a softer US Dollar that appears to be the main theme going into today’s US CPI number. Headline month-on-month CPI for August is anticipated to be -0.1% against a flat number for July and 8.1% for the year-on-year figure against 8.5% previously.
