Euro scales to two-month high above $1.16 mark; ECB Lagardes speech awaited
Mumbai, Aug. 19 -- Euro jumped to a two-month high against the dollar on Wednesday on expectation of rate hike by the European central bank, at a time when the Fed is seen holding rates steady. Elevated energy prices remain a concern for the Euro Area, particularly as tensions in the Middle East show little sign of easing. On Tuesday, ECB chief economist Philip Lane said the region's 3% inflation rate remains "too high" when considering potential adjustments to policy rates. Data on Tuesday showed that the German ZEW Survey - Economic Sentiment came in at 34.2 in August, versus 26.3 prior, better than the estimates of 30.00. The ZEW Survey - Current Situation improves to -61.1 in August, compared to -77.6 in July, stronger than the -68.8 ...
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