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Support for the Euro (EUR) is helping EUR/USD recover from two consecutive days of declines, with the pair trading near 1.1150 in Monday's Asian session. Remarks by several European Central Bank (ECB) policymakers, including the German and Italian central bank heads, have supported the single currency by signalling that an interest rate hike in December may be likely. The argument for additional monetary tightening has strengthened after Eurozone inflation reached 4% in October, a three-year high fuelled by rising energy costs. Speaking on Thursday, ECB President Christine Lagarde said the central bank was closely assessing incoming data to judge whether an interest rate increase would be justified next month.
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