ECB Hints At Positive Rates, Sending EUR Higher
The euro started the trading week on a higher note after the ECB President, Christine Lagarde, said that the central bank is ready to raise the rates during the summer. In a blog posted on the ECB’s website, Lagarde said that the lift-off date is drawing closer, and it is important for the markets to know the policy normalization path ahead.
Euro needed nothing more to rally. The EUR/USD, as seen below, jumped over 100 pips or more than 1% on the news. Traders now expect that the ECB will raise the key interest rate twice in July and once in September, bringing the deposit facility rate to zero.....More info: blog FXOpen
