The market has mostly priced in a June rate hike from the ECB tomorrow after earlier expecting a July hike. Almost 100 basis points of tightening over the next 12 months is now priced in rather than the 75 bp priced in late last week.
EUR/USD is consolidating in the high 1.4920s, the highest levels since December 2009.
1.5145 is the key technical hurdle ahead for EUR/USD. Defense of 1.4950 and 1.5000 barriers may slow the advance.
1.4880/1.4900 bids are seen on dips near-term.
