German inflation fell 0.5% y/y in December compared to 0.2% expected but the euro has climbed to a session high at 1.1342.
A market that can’t fall on bad news, likely can’t fall at all. In the euro’s case, all bounces will eventually reverse but long-term shorts are likely taking some profits with no obvious catalysts from here.
Strong offers are reported at 1.1345 with more at 1.1360/70 and near the high from yesterday at 1.1383.
