HomeFinancial MarketsEuro Slips Amid ECB Rate Talks

Euro Slips Amid ECB Rate Talks

The Euro fell on Friday to its lowest level in mid-June amid growing expectations that the European Central Bank could soon pause interest rate hikes. This comes ahead of Friday’s speech by Federal Reserve chair Jerome Powell, with the US central bank to continue its rate hikes as inflation remains persistent despite its gradual cooldown.

Measured against the greenback, the euro fell to its lowest point since mid-June at around $1.0766, declining 0.13% on the day. Still, the dollar strengthened overall against major world currencies as a whole, with the dollar index rising to 104.31, the highest since June 6. Most recently, the index slipped 0.1%, suggesting that observers are exhibiting caution ahead of Powell’s address at the Jackson Hole Economic Policy Symposium.

Aside from inflation concerns, the euro was also hit by a slump in manufacturing activity across the European continent. This slide in business activity has raised bets for further rate hikes.

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