German preliminary CPI rose 0.7% in December and 0.8% versus year-ago levels. Both measures were about a tenth of a percent firmer than expected. A seasonal rise in holiday-package travel is blamed for the bulk of the rise.
Don’t expect the ECB to run out and hike off of one-month’s data…
EUR/USD is flopping around, now up at 1.4445. Central bank offers are rumored in the 1..4465/70 area.
