LONDON (Reuters) – The euro rose slightly on Thursday, ahead of a meeting of the European Central Bank, which is expected to set a framework for ending stimulus measures, paving the way for the first rate hike this year.
The euro rose 0.1 percent to $ 1.09030 by 11:20, after hitting its lowest level since early March on Wednesday.
The European Central Bank is expected to give some clues about its upcoming policy with inflation rising to record levels and amid fears that the war could lead to a recession.
On the other hand, the dollar index, which measures the performance of the US currency against a basket of six currencies, fell 0.1 percent to 99.670, after hitting its highest level since May 2020 at 100.520 yesterday, Wednesday, supported by the rise in US bond yields this week.
The price of the pound sterling rose to its highest level in nine days against the dollar and reached 1.3132 dollars in its latest trading, up 0.1 percent.
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