The euro reached as far as $1.0903, breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936.
A Reuters survey of analysts also favoured a hike of 50 basis points in March and an eventual top of 3.25%. Flash surveys on January manufacturing due this week are forecast to show more improvement in Europe, in part thanks to falling energy costs, than in the US. Analysts assume the Bank of Japan will stand the line until at least the next policy meeting in March, though one hurdle will be the expected naming of a new governor in February.
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