EURUSD pair rebounded sharply in recent minutes due to the stronger euro. Additionally, we see a recovery on the side of European bond yields.
The ECB consensus is leaning towards a possible hike this year amid likely strong inflation forecasts. The consensus is formed before the ECB meeting on March 10, during which a potential decision to end the QE program in September is to be reached. This move could allow for an interest rate hike in the last part of this year.
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EURUSD is minimizing the recent losses. Source: xStation5
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