The Euro US Dollar (EUR/USD) exchange rate is adding to gains from the previous session. The pair trades +0.2% at US$1.1825.
All eyes are on the ECB monetary policy announcement. No changes to policy are expected so full attention will be on new economic projections and comments by ECB President Christine Lagarde. Negative inflation and a strong Euro is causing the ECB a headache. The recovery outlook is expected to be upbeat.
US Dollar investors will look ahead to US jobless claims data later today. Expectations are for 846,000 more Americans to have signed up for unemployment benefits. A larger decline could boost the US Dollar.
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