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The pair EUR/USD continues to grow at the Forex currency market on Tuesday – ECB once again gave indicated rapid increase in the interest rate which brought a rally in the markets.

By 9.15 Moscow time the Euro is at 1.4223 against closing session level of 1.4219 yesterday.

Yesterday, executive board member of the ECB, Gertrude Tumpel-Gugerel noted that the regulator shall maintain high level of vigilance to continue effectively restrain inflationary pressure in the region- investors interpreted her signal in favour of possible increase in the interest rate in April. 

However, an obstacle for the Euro’s rally is the news background in Libya where tension still remains.                                  
There will not be a lot of macro-statistics published today; therefore, external background will remain the main driver for the movement direction in the pair.

Most likely the pair EUR/USD will not go beyond the range of 1.4130-1.4250 at the trading session on Tuesday.
 
 

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