LONDON : The euro on Thursday added to its overnight biggest daily jump since 2016 after the European Central Bank said it would phase out its stimulus package in the third quarter and left the door open to an interest rate hike before the end of 2022.
"The market's take is that the ECB is now closer to ending QE and thereby raising rates than it previously was", commented Gavin Friend, a senior market strategist at National Australia Bank. The euro has been widely seen as a gauge of Europe's biggest security crisis since 1945 and touched a 22-month low of $1.0804 earlier in the week, with investors expecting a sizeable impact on European growth.
Recent speculation that EU leaders were considering joint bond issuance to finance energy and defence spending have, however, boosted the currency. An EU summit will begin later today in Versailles, west of Paris.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IndependentSG - 🏆 9. / 63 Read more »