The euro claws back losses as traders price in the likelihood of a large-sized rate hike by the ECB. The single currency has been struggling to hold onto the parity threshold. A whipsaw around 1.0080 suggested stiff selling pressure, but the long side has managed to keep the latest correction contained at 0.9910. A bullish breakout would extend the rebound to the support-turned-resistance at 1.0220 where renewed selling interest could be expected as medium-term sentiment remains pessimistic.
