• EUR/USD edges higher, underpinned by JPY’s sharp gains vs USD

• Spot is retesting the top of the recent 100-200-day MA range at 1.1563-1.1634

• Despite the bid, EUR still faces downside risks from higher energy costs

• Event risk ahead - ECB policy decision (Thur), U.S. PPI/CPI (Thur/Fri)

• ECB hike is widely expected, focus shifts to projections and the statement

• U.S. inflation figures likely to set the overall tone for the pair
EURUSD daily chart

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))