India, April 1 -- The euro weakened against other major currencies in the European session on Tuesday, as the soft Eurozone inflation data in March contributed to the already high expectations for another interest rate decrease by the European Central Bank later in April.
Data from Eurostat showed that the Eurozone harmonized index of consumer prices rose 2.2 percent year-on-year in March, slightly slower than the 2.3 percent rise in February. The rate matched expectations.
Core inflation that excludes prices of food, alcohol and tobacco, slowed to 2.4 percent from 2.6 percent in the previous month. Inflation was expected to slow marginally to 2.5 percent.
Data showed that growth in food prices increased to 2.9 percent from 2.7 percent. ...