ECB Hike Odds Rise on Iran War; Euro Slips on 'Buy the Rumour, Sell the Fact'

The European Central Bank kept interest rates unchanged at its latest meeting. However, the ongoing conflict involving Iran has increased the likelihood of a rate hike at the September meeting.

Meanwhile, the euro weakened as traders engaged in a 'buy the rumour, sell the fact' reaction, with the currency slipping following the initial speculation that had built up.