The Euro holds near 1.1240 as ECB rate hike speculation and a weaker US Dollar post-midterms drive short-term bullish momentum for the currency pair.
Scotiabank reports the Euro firmer near 1.1240 against the US Dollar, just below intraday highs around 1.1265, as ECB rate hike bets support the currency and the dollar softened after the US midterms. That combination points to further near-term EUR/USD upside, though the pullback from the high shows gains are not uninterrupted.
Scotiabank points to ECB rate hike bets supporting the Euro and a softer US Dollar after the US midterms.
It is firmer near 1.1240, slightly off intraday highs around 1.1265.
The Euro trades firmer near 1.1240 against the US Dollar, supported by growing expectations for European Central Bank interest rate hikes. Scotiabank analysts note that the currency pair is benefiting from a broader softening of the US Dollar following the conclusion of the US midterm elections.
Scotiabank points to ECB rate hike bets supporting the Euro and a softer US Dollar after the US midterms.
It is firmer near 1.1240, slightly off intraday highs around 1.1265.