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Forex pairs in this Article » EUR/USD (London) - Derek Halpenny, currency strategist at The Bank of Tokyo-Mitsubishi UFJ said the key event that has altered the recent trend of dollar selling versus the euro was the very surprise weakness of the HICP data from the euro-zone yesterday.

Key quotes:

“…when in our daily we stated that the ECB was currently not meeting its inflation mandate with inflation at 1.1% – that is even more so the case now after the modest 0.7% year-on-year print in annual inflation for October”.

“That was certainly the focus in the Asian trading session today and the euro has weakened modestly further after the selling yesterday”.
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