Euro Forecast: EUR/USD Soars as Dollar Loses Sparkle Ahead of US Inflation Report

From dailyfx.com

The euro strengthened against the U.S. dollar for a second straight day on Monday, rising as much as 1.6% to 1.0198 in the overnight session before paring some gains to settle around 1.0135 in early afternoon trading, supported mainly by hawkish comments from European Central Bank officials and the risk-on mood in global markets, reflected in the strong rally in both European and U.S. stocks. In an interview over the weekend, Bundesbank President Joachim Nagel said that policymakers must take “further clear steps” if the inflation profile does not improve, a sign that the ECB could continue to front-load policy ... (full story)