A positive bias in the U.S. equity futures market has also helped trigger some renewed buying interest.
Sweden’s Riksbank raised its key interest rate by 50 basis points to 3.00%, as expected, and said further rate hikes are likely.
BOE Governor Bailey testified before Parliament’s Treasury Committee that he thinks inflation will come down sharply this year, but that risks remain, according to Bloomberg. EUR/USD +0.5% to 1.0761.
Germany’s January preliminary CPI +1.0% m/m (expected +0.8%; last -0.8%) and +8.7% yr/yr (expected +8.9%; last +8.6%)