EUR/USD dipped to 1.3277 on selling associated with the ECB fixing at 13:15 GMT. That has been a steady theme this week, though it is unclear why.
With the fixing sales out of the way, prices have retaken the 1.3300 level. Look for choppy trade with a downside bias for the rest of the session. Soft German prliminary CPI (-0.1% , 0.5% y/y) isn’t helping the euro’s cause as it clearly gives the ECB plenty of leeway to act to cut rates.
