EURO HITS ONE WEEK HIGH FOLLOWING LAGARDE COMMENTS

Published on Sep 13, 2024 12:06

Euro stayed supported against the US dollar the European Central Bank or ECB lowered interest rates. Market focused on the comments made by ECB president Christine Lagarde as she clarified that another cut next month will be determined by upcoming economic data. We are going to decide meeting by meeting, Lagarde said in a briefing after the ECB eased again on Thursday by 25 basis points. EUR/USD broke above 1.1100 mark today following a good upmove in last session and currently quotes at 1.1120, up marginally on the day. These are the highest levels in last one week for the single currency.