The European single currency was trading lower against the US Dollar on some pessimistic sings in the CPI reports for the Euro zone. The EUR/USD currency pair reached the 1.1785 mark, though the Greenback recovery remained restricted by looms of the US tax reform.
Euro zone’s consumer inflation rose markedly in line with estimates, the final Eurostat report showed on Monday. The EZ Consumer Price Index growth confirmed preliminary gain of 1.5% in November, following a 1.4% increase in the prior month. However, inflation kept staying below, but very close to the ECB target of 2.0%. Higher energy prices were the major driver for growth, climbing 4.7% for the month. Meanwhile, prices of food, tobacco and alcohol eased to 2.2% from 2.3%.
