Euro Firms on Dollar Weakness, Anticipated ECB Rate Hike
Dow Jones09-09 15:38
0738 GMT - The euro firms against the dollar, driven by the dollar's broader weakness and in anticipation of a 25-basis-point interest-rate hike by the European Central Bank on Thursday. "The euro remains well supported, benefiting from broad U.S. dollar weakness and expectations that the European Central Bank will raise rates on Thursday," LMAX Group's Joel Kruger says in a note. The anticipated rate hike is "leaving the currency's next direction dependent on the ECB's updated outlook and whether policymakers signal scope for further tightening as elevated energy prices reinforce inflation risks," the market strategist says. The euro rises 0.15% to a 12-day high of $1.1645, LSEG data show.
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