The Greenback strengthened against the Eurozone’s single currency, following the US producer price index data on Tuesday. The EUR/USD currency lost only four pips, or 0.03%, to continue fluctuating in the 1.2359 area.
The Bureau of Labor Statistics revealed better-than-expected data in producer price index in March. It was mainly led by the increase in costs of an airline and healthcare services, pointing out to the wholesale inflation pressures. Economists give their opinion about inflation being pushed towards the Fed’s two percent target at the end of this year in a form of the weak dollar, tight labor market and fiscal stimulus.
