"At least the improved supply-demand imbalance seems to be having an effect on price pressures," Capital Economics global economist Ariane Curtis said.
The minutes from the central bank's last meeting are due later this week and could provide additional clues on policy direction, but also inject some volatility, he said. In the currency market, the dollar index , which tracks the greenback against six major peers, was flat. The euro dipped 0.3% lower against the dollar to $1.09115.
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