Euro rose today to a two-month high after the European Central Bank pointed to the noticeable recovery of inflation rates recently, marching steadily towards the 2% target.
EUR/USD last traded at 1.0816, up from the opening of 1.0766, with an intraday high at 1.0830, and a low at 1.0766.
The Economic Bulletin released from the ECB showed rebounding inflation as crude prices rose, while pointing to the continued recovery of the Eurozone economy after trade activities improved by the end of 2016.
The ECB's economic vision bolstered expectations the bank might trim down its stimulus program or slow down the pace of buying government bonds, which buoyed the common currency and paved the way for a weekly profit.
On the other hand, the euro drew support from dollar's tumble against a basket of currencies to a three-month low after the Federal Reserve's meeting yesterday, which slashed the chance of a rate hike in the March meeting amid the need for more assurances.