The single currency maintains its consolidation unchanged in the second half of the week, while the EUR/USD is trading at 1.1380 / 85.
The pair is moving sideways below the recent high of 1.1400 as the USD momentum and the general risk trends decide on the trend.
As the day progresses, we expect German inflation outlooks for February before tomorrow's PMI and Flash CPI results in the Eurozone. From the other side of the big pond there is the Q4 GDP revision from the economic calendar.
The recent poor data in the euro area and the reality check of the ECB's minutes of the meeting appear to have heightened concerns about the deterioration of domestic fundamentals, which reduces the possibility of an ECB rate hike this year.
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