The euro moved sharply higher on Tuesday and reached 1.2360.
The EUR/USD rose to near 1.2360 after the ECB member, Nowotny, told Reuters that the QE would end this year. The ECB will start the process of rate hikes. The traders liked the comment and pushed the euro higher.
Yesterday, the euro also gained ground against the U.S. dollar on the news that the ECB President was confident the inflation would rise to the target level.
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