Comments from the ECB's Centeno:

Comments from the ECB's Centeno:
  • Risk of losing credibility if new guidance does not show more leeway on inflation
  • There is no inflation overshooting logic in the strategy
  • More room for manoeuvre on monetary policy than previously
  • ECB must be very careful when deciding to remove support

Today's US CPI report was a help for the US as it pushed down EUR/USD and will help to boost global inflation expectations.