Jump in Inflation Spurs Euro
The euro climbed after high-than-expected euro-zone inflation data caused further reassessment of likely interest rate policy of the European Central Bank.
Defying expectations for a slight easing, inflation in the 17-member bloc jumped to 2.6% in February.
According to analysts, it is said that the data would put the rubber-stamp on an April rate increase of 25 basis points to 1.25% and that the likelihood of further increases was now growing as oil and food prices were still rising.
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