Inflation caused by transient factors may fade - ECB's Praet

During his scheduled speech at IE Business School Leadership Forum and luncheon in Madrid, Spain, Peter Praet, Member of the Executive Board of the ECB was noted saying that we need to look through recent surge in inflation driven by transient factors, which may fade. 

He further added that we are confident that the ongoing economic expansion will continue to firm and broaden.

Meanwhile, the EUR/USD pair's up-move picked-up momentum during the NA opening and is now testing the very important 200-day SMA hurdle near 1.0890 region.