The euro declined against its major counterparts in European deals on Thursday, as the European Central Bank raised interest rates by 25 basis points, but hinted at a pause in the tightening cycle as the bank estimates that the current level of interest rates if maintained for long would ensure a timely return of inflation to the target.
The U.S. dollar fell against its most major rivals in the European session on Monday, as investors await U.S. inflation data that could influence the Federal Reserve's interest rate path for the rest of the year.
(Bloomberg) The dollar’s recent strength has confounded naysayers, and according to some hedge funds, the rally isn’t over.Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderFed Set to Double Its Economic Growth Forecast After Strong US DataStocks Retreat After Hot ISM Fuels Fed-Hike Wagers: Markets WrapSoaring US Dollar Raises Alarm as China, Japan Escalate FX PushbackChina Slowdown Means It May Never Overtake US Economy, Forecast ShowsK2 Asset Management sa