The pair rose by 0.3% today and overcame the level of 1.1100. Let’s see if the report on inflation in the euro zone will push the pair to the next resistance zone in the area of 1.1141. According to forecasts, the overall CPI grew by 1.9% in April, which is quite close to the target value of the Central Bank of 2%.
The yen remains the leader of growth among the major currencies. The pair has already lost more than 0.5% today descending to the middle of the range 113.00-112.00, despite the weak data on industrial production in Japan for March and cautious comments from the head of the Bank of Japan.