Investing.com - The euro slumped Wednesday on report ECB to cut inflation forecasts through to 2019.
The euro was off 0.59% at $1.1212 at 07:15 ET. The dollar index jumped 0.39% at 96.88.
Bloomberg quoted unnamed euro-zone officials as saying the new forecasts to be unveiled at ECB policy meeting on Thursday.
The rationale behind the cuts is weaker energy prices. Projections to be cut to about 1.5% for 2017, 2018 and 2019.
Projections in March forecast inflation at 1.7% for this year, 1.6% for 2018 and 1.7% for 2019.
The ECB's medium-term inflation target is close to but below 2.0%.