Euro on upward trajectory
The current weakness of the euro in foreign exchange markets is complicating the European Central Bank's efforts to achieve its objective of controlling inflation, said Francois Villeroy de Galhau, ECB's governing council, expecting a "decisive" meeting in June on the rate hike, and an "active summer" in terms of monetary policy.
Following the news, the euro has jumped against the dollar, reversing its downward trajectory. A floor around the 1.0400 level should incentivize more traders to jump in.
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