The Euro depreciated against the Greenback, following strong preliminary report on Germany’s consumer inflation in November. The EUR/USD currency pair fell slightly 0.08% or 9 base points to rebound from the 1.1825 mark and changed the direction back to the 1.1870 area, being affected by the US economic reports coming further.
German consumer prices grew more rapidly than anticipated in November, as the costs of fuel and food rose, owing to the Euro zone’s loose monetary policy boosting the country’s economy and job market. Destatis preliminary report for Germany showed that the Consumer Price Index rose 1.8% year-on-year in November, compared with a 1.5% gain in the previous month.
