Today, the US CPI print is highly anticipated, which could give insight into the Federal Reserve's decision to cut rates from their 23-year high of 5.25%. The minutes from the last Fed meeting are also being released, which may cause some volatility when they are released at 7 pm. There is little economic news from the Eurozone today, but tomorrow the European Central Bank will announce its latest monetary policy decision. It is expected that the interest rates will remain unchanged. The focus will be on the accompanying statement and ECB chief Christine Lagarde's press conference. Many expect Lagarde to announce that the bank will begin cutting its rates in June due to the recent fall in inflation and ongoing sluggish growth. The EUR/USD has followed a similar pattern to the GBP/USD over the past 24 hours, rallying before giving up some of those gains. It has moved from around 1.0830 to now sit at 1.0855.