EUR/USD is trading at session lows as the dollar holds firm on the day
The pair is now attempting at a break below the 76.4 retracement level at 1.1241, which helped to stall yesterday's decline. This comes as the dollar remains firm to start the European morning as the greenback also pushes gains against the likes of the pound, swissie, loonie while paring losses against the aussie and kiwi.
German inflation data will be a key focus for the euro today but the early signs haven't been too encouraging. Although the Saxony report showed that the headline reading held steady on an annual basis at 1.4%, the core reading actually declined from 1.4% in February to just 1.1% for the month of March.
With the ECB trying to keep a confident mood on its inflation outlook, that certainly won't be welcome news if it translates to a similar theme across the region.
