{"id":1560994,"date":"2022-07-19T11:20:14","date_gmt":"2022-07-19T15:20:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1560994"},"modified":"2022-07-19T11:20:22","modified_gmt":"2022-07-19T15:20:22","slug":"euro-rallies-after-report-that-bigger-ecb-rate-hike-is-on-the-cards","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/euro-rallies-after-report-that-bigger-ecb-rate-hike-is-on-the-cards\/","title":{"rendered":"Euro rallies after report that bigger ECB rate hike is on the cards"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuro-rallies-after-report-that-bigger-ecb-rate-hike-is-on-the-cards%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1560994&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>LONDON (Reuters) \u2013     The euro rallied on Tuesday after a Reuters story that European Central Bank policymakers will discuss whether to raise interest rates by 25 or 50 points at their meeting on Thursday to tame record-high inflation.<\/p>\n<p>The gains in the euro, which sent it surging away from the sub-parity levels of last week, come as falling expectations for an aggressive 100 basis point hike from the Federal Reserve later this month knocked the dollar.<\/p>\n<p>The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday. <\/p>\n<p>The dollar index dropped 0.8% to 106.64. That was below Monday\u2019s low of 106.88 but also well back from the high of 109.29 last week, a level not seen since September 2002.<\/p>\n<p>Analysts are reluctant to turn bullish on the euro given the region\u2019s economic headwinds and ongoing concerns about supplies of natural gas and the hit to its economy.<\/p>\n<p>ING analysts said a \u201cstill-challenging environment in the euro zone is keeping any bullish sentiment\u201d capped. \u201cWe continue to believe that another drop to parity is possible over the coming days,\u201d they wrote.<\/p>\n<p>Traders are also biting their nails ahead of Thursday, when gas is supposed to resume flowing through the Nord Stream pipe from Russia to Germany after a shutdown for scheduled maintenance.<\/p>\n<p>Russia\u2019s Gazprom declared force majeure on gas supplies to Europe to at least one major customer, in a letter dated July 14 and seen by Reuters on Monday.<\/p>\n<p>Elsewhere, the Australian dollar soared 1.2% to $0.6894 after Reserve Bank of Australia policymakers said they saw the need for more policy tightening on top of recent hikes.<\/p>\n<p>\u201cThe RBA board has lifted the intensity of its rhetoric,\u201d Westpac economist Bill Evans wrote in a research note. \u201cAnother 50 basis points in August seems highly likely.\u201d<\/p>\n<p>The Japanese yen rose but was not far from a 24-year low ahead of a Bank of Japan policy decision on Thursday, with the central bank committing repeatedly in recent days to continued ultra-easy settings.<\/p>\n<p>Sterling gained 0.6% to $1.2017, near Monday\u2019s one-week high of $1.2032. It slumped to $1.1761 on Thursday for the first time since March 2020, with Britain facing an acrimonious and divisive contest to replace ousted prime minister Boris Johnson.<\/p>\n<p> (Reporting by Tommy Wilkes; Additional reporting by Kevin Buckland in Tokyo; Editing by Alison Williams)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2727877\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6I01I-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6I01I-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) \u2013 The euro rallied on Tuesday after a Reuters story that European Central Bank policymakers will discuss whether to raise interest rates by 25 or 50 points at<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1560994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1560994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1560994"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1560994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1560994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1560994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1560994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}