Euro Gains as Inflation Grows

The euro went up today after the report showed that the inflation in the Eurozone unexpectedly accelerated in March, increasing the bets that the European Central Bank will raise the interest rates in April.

The consumer prices in the Eurozone rose 2.6 percent in March, while the rate of growth was expected to remain the same as in February at 2.4 percent. Analysts say that the inflation outweighs the negative impact of Ireland’s and Portugal’s problems on the investors’ sentiment and pessimism can return only in case of some major negative news, like debt problems in Spain.

EUR/USD traded at 1.4181 today as of 13:55 GMT after rising from 1.4127 to 1.4231, the highest level since March 22.

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