Euro Edges Higher Above 1.1400 on ECB Rate Hike Bets
EUR/USD rises to around 1.1430 in early Asian trade, supported by a weaker dollar and growing expectations of further ECB rate hikes.
EURUSD
The euro edged higher against the US dollar on Friday, trading around 1.1430 in early Asian hours. The move was driven by a softer US dollar and increasing bets that the European Central Bank will continue raising interest rates.
Traders are ramping up expectations for additional ECB rate increases, which has buoyed the common currency. Meanwhile, the greenback remains under mild pressure.
The pair has now pushed above the 1.1400 level, extending its recent gains. Market participants will watch for any further commentary from ECB officials and upcoming US data for near-term direction.
Source: FXStreet Forex News