EU April Core CPI blew through expectations (+1.8%Y/Y vs +1.5%, consensus, and +1.5%, last), increasing at the fastest pace in over 2 years. The ECB will be obliged to accelerate their planned lift, with the intent of braking activity in this region. This will place upward pressure on the Euro, while the current emergency regarding survival of Greece, and contagion, has pressured it lower recent days.
Robert Craven
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