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Eyes European Commission forecasts ahead of Yellen testimony

The EUR traders await the European Commission economic forecasts. A weaker inflation forecasts could weigh over EUR, especially since the ECB has expressed readiness to act in March. Meanwhile, the action in the European stock markets would continue to influence the pair.

Ahead in the day, Yellen testimony could dominate the wires. Comments on whether the Fed will still be considering a rate hike at its March meeting is what markets would be interested in hearing.

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