The euro continued to make gains on the dollar this morning rising 0.5 percent to $1.4901 at 8:30 an in New York. Investors are hopping aboard the euro as speculation grows that tomorrow’s statement from the European Central Bank will strongly hint at further interest rate increases for the Eurozone.
Ã¢â‚¬Å“The ECB has nailed its anti-inflation colors firmly to the mast, and the Fed hasnÃ¢â‚¬â„¢t even got around to starting yet,Ã¢â‚¬Â said Steven Barrow, a currency strategist at Standard Bank Plc in London. Ã¢â‚¬Å“This euro rally wonÃ¢â‚¬â„¢t extend too far if the ECB isnÃ¢â‚¬â„¢t as hawkish as the market expects.Ã¢â‚¬Â
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