Euro could press home its advantage
The European Central Bank raised its interest rate by 0.25%, as had been expected. By doing so, the ECB's interest rate has reached 3.75% since July 2022. Forecasts predict that the rate could be bumped up by a further 0.25% at the regulator's next meeting. Meanwhile, US Federal Reserve Chairman Jerome Powell's post-meeting press conference was seen by markets as an indication that the Fed would be winding up its monetary policy tightening. It's likely that the euro will continue to have an advantage over the dollar that would foster its rise.
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