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EUR/USD Rate Marks Largest One-Day Rally Since May on Hawkish ECB
The initial reaction to the ECB interest rate decision dragged on the Euro as the central bank stays on track to carry out “a moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the second and third quarters of this year,” but the decline was short-lived, with EUR/USD bouncing back from the session low (1.1582) as President Christine Lagarde and Co. “foresee inflation rising further in the near term.” It seems as though the ECB will draw up an exit strategy over the coming months as the central bank anticipates Euro Area “output to exceed its ... (full story)