ECB minutes: FX is a source of significant uncertainty

Minutes from the March 2018 ECB meeting 12 April 2018

Past euro appreciation has not had a significant impact on demand
Euro strength not fully due to macro improvement and may have a more negative impact on inflation
Global Econ. Risks Tilted To Downside In March
Caution Voiced On Eur Moves, Financial Conditions
Some Put Forward View That Infl. Goal Is Near, majority said it was not sufficient
Widespread Concern On Trade Conflicts
Should Not Misunderstand Removal Of Easing Bias

So, a lot of chatter on the exchange rate and the euro has been a bit buoyed on the talk of inflation being sustained. It seems the majority is still on the other side of those calls…for now.

EURUSD pushed up to 1.2350 but is back at 1.2341

Full minutes are here.