The European single currency depreciated against the US Dollar, following the Euro zone’s economic reports on Thursday. The EUR/USD currency pair slacked 16 base points or 0.14% to reverse the downmove and freely rerturn above the 1.1900 mark.
Euro zone inflation growth accelerated at a weaker-than-expected pace in November, pointing to the price growth to remain weak and reinforcing the ECB projections for a further decrease by the end of the year. Eurostat showed that consumer inflation in the 19-country bloc rose 1.5% in November, remaining below the 2% target for nearly five years and missing expectations for a stronger growth pace of 1.6%, despite an increase in prices of oil, which resulted in higher energy costs.
