Spanish Preliminary HICP drops sharply to 3.1% YoY in March vs. 4.3% expected

• The annual HICP in Spain declined to 3.1% in March.
• EUR/USD is holding higher ground near 1.0850 on the dismal Spanish data.

Spain has been routinely seen as a 'bellwether' for broader Eurozone inflation with a lead of about four months.

more to come ...