The ECB Rate Hike and The Expected Meetings Weakens EUR/USD.


The US Dollar’s downfall has been greatly inflated if the last 24 hours are anything to go by. It has eased slightly through the Asian session. As anticipated, EUR/USD retraced losses in prior sessions after the European Central Bank (ECB) raised rates by 75 basis points.

The language from ECB President Christine Lagarde after the decision led to the assumption that further jumbo hikes from the bank may not be set in stone. She said that rate move would be considered on a ‘meeting by meeting’ basis. This is despite persistent very high inflation.

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