EUR/USD Upside Capped Before ECB's Decision Thursday - Credit Agricole

        0115 GMT [Dow Jones] The euro strengthened to a near-two-month high of 1.3952 Tuesday as euro-zone March retail sales unexpectedly rose 0.3% on-month, defying a forecast for a 0.2% fall. However, Credit Agricole believes further EUR/USD upside could be limited ahead of Thursday's ECB meeting as the euro is now very much an important part of the ECB's monetary policy consideration. But in the weeks to come, Credit Agricole doesn't exclude additional EUR/USD upside risk as there is little likelihood of the ECB considering unconventional policy measures in the absence of slowing growth momentum or rising downside risk to inflation. Spot EUR/USD is at 1.3933 compared with 1.3927 in late New York trade Tuesday. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 21:15 ET (01:15 GMT)