Mubasher: Preliminary data on Wednesday suggested a significant acceleration in the Eurozone’s annual inflation during March.

The consumer price index (CPI) recorded 1.4% last month, matching analysts’ forecasts, up from 1.1% in February, flash estimates by the Eurostat showed.

Meanwhile, core prices, which exclude energy, food, alcohol and tobacco, remained unexpectedly steady at 1% in March, compared with economists’ expectations of an increase towards 1.1%.

By 09:22 am GMT, the EUR/USD pair climbed by around 0.2% to $1.2295.