The Euro was relatively stable against the dollar today after seeing some volatility yesterday and the day before.
The currency could see limited movements as traders turn their attention to the European Central Bank’s meeting today.
Expectations continue to point to the central bank keeping its rates unchanged for the time being.
Traders could monitor the ECB president’s speech for hints over the next steps in monetary policy in particular as the central bank’s officials continue to talk down the possibility of an early rate cut. This comes after a rebound in inflation in December, leaving it above the ECB’s 2% target.
The currency could see significant volatility after the ECB’s decision and could react to the release of US economic data on the job market and GDP growth as traders turn their attention to the Federal Reserve’s meeting next week.
