Flash: EUR/USD pressing higher – TDS

FXstreet.com (London) - Strategists at TD Securities noted that the club of AAA rated sovereigns lost another member overnight as S&P cut the Netherlands by one notch on weaker economic prospects.

Key Quotes:

“The EUR paid little attention however, and flash EZ CPI provoked a bigger reaction from the FX space as the market looks toward next week's ECB meeting”.

“A slightly better than expected inflation report somewhat reduces expectations that the ECB needs to loosen policy further next week, and that has kept the EUR well supported this morning. EUR/USD has touched a very marginal new high”.