At around 1.1150 in Monday’s Asian trading, EUR/USD is recovering from two consecutive days of declines. Support for the Euro (EUR) comes from comments by several European Central Bank (ECB) policymakers, among them the German and Italian central bank heads, indicating that an interest rate rise in December may be likely. At 4% in October, Eurozone inflation reached its highest level in three years as energy costs increased, strengthening the argument for additional monetary tightening. Speaking on Thursday, ECB President Christine Lagarde said the central bank was closely assessing incoming data to judge whether an interest rate rise would be justified next month. A weaker US Dollar (USD) is also helping EUR/USD advance.
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