The upside momentum remains well and sound around the single currency and is now helping EUR/USD to climb to daily highs in the 1.1840 region.
EUR/USD focused on ECB
EUR/USD is up for the second session in a row on Thursday, reversing the recent multi-session decline after auspicious comments from ECB officials on Wednesday motivated buyers to return to the market.
In fact, ECB officials talked down the likeliness of extra monetary stimulus in the region in light of the ongoing economic recovery. These comments came in stark contrast to those made by ECB’s P.Lane last week, when he hinted at the idea that a strong exchange rate could play against the pick-up in the activity – thus triggering the corrective downside in spot.