EUR/USD touches a high of 1.1776 on the day
The euro is continuing its momentum following the consistent comments on the inflation outlook by ECB speakers today, as it sets up for hawkish expectations ahead of the ECB meeting next week on 14 June.
The next key level to the upside is the 1.1800 handle, where there is also large expiries sitting there - so that may put a lid on price action for the day until it rolls off later.
ECB speakers go into a quiet period starting tomorrow, so expect the hawkish tones ahead of the meeting to linger for quite a while - and the market will also start to build up expectations of an upbeat revision to the inflation forecast as well so that will keep the euro underpinned ahead of next week's meeting.
