Unchanged from revised 11.3% in June (prev 11.2%) and in line with median forecast.
Euro zone August inflation estimated at 2.6% y/y vs 2.4% in July, stronger than median forecast of 2.5%.
Euro bulls have managed to trip buy stops through 1.2540 and we’ve moved quickly to 1.2558.
Sell orders remain up at 1.2580/00 ahead of 1.2600 barrier option interest. More buy stops above there.
At the end of the day we remain ensconsed within 1.2450-1.2600 range.