Euro rallies as ECB raises rates and inflation forecasts! | MarketTalk: What’s up today? | Swissquote
It was mostly a good day for the global markets, except for Europe, which saw the European Central Bank (ECB) expectedly raise interest rates by 25bp, but unexpectedly raised inflation forecast, as well.
At the wake of the ECB meeting, the implied probability of a July hike jumped from 50% to 80%, sending the EURUSD rallying.
The US dollar sank below its 50-DMA, impacted by softening retail sales, rising jobless claims, slowing industrial production and perhaps by a broadly stronger euro following the ECB’s higher inflation forecasts, as well.
Elsewhere, rally in EURJPY gained momentum above the 150 mark, as...