Mubasher: The EUR/USD pair jumped to $1.1980 after the European Central Bank’s (ECB) meeting showed a potential gradual shift in the bank’s guidance in 2018.

The ECB said it should change its policy message and evolve the communication stance gradually amid an increased confidence that inflation pressures would ease during the year.

Investors consider these comments a sign that policymakers are ready to reduce the EUR 2.55-trillion bond-buying programme.

The euro last surged 0.52% to $1.2010 against the US dollar by 01:01 pm GMT.