EUR/USD has completed its double bottom bounce off the 1.3050 and has climbed 150 points in the past 36 hours to challenge the first of a series of swing highs made in its initial climb to 1.3350.
According to the US producer prices released this morning, inflation is back, which may keep the Federal Reserve on hold for far longer than most traders may have been anticipating. The US Labor Department reported a 2 percent monthly rise in producer prices with a 1.3 percent monthly gain in core prices.
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