Germany December PPI mm +0.4% as expected

Germany December PPI report 20 Jan

  • +0.3%
  • yy 1.0% as exp vs +0.1% prev

Stronger yy but will take a while to filter through into headline inflation.

Meanwhile EURUSD underpinned still at 1.0688 but finding 1.0700 a step too far again.

EURGBP crawling around 0.8650 and EURJPY 122.50

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