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fxJun 12, 2026, 12:07 AM

Euro Strengthens After ECB Hikes Rates for First Time Since 2023

The euro rose against the dollar to around 1.1575 on Friday after the European Central Bank raised interest rates for the first time since 2023, with improved risk sentiment also supporting the move.

EURUSD

The EUR/USD pair edged higher during early Asian trading on Friday, reaching approximately 1.1575. The move followed the European Central Bank's decision to hike interest rates for the first time since 2023, which boosted the euro.

Improved risk appetite across markets further supported the single currency against the US dollar. The rate increase marks a shift in ECB policy after a prolonged pause, reflecting efforts to address inflationary pressures.

Source: FXStreet Forex News