EUR/USD takes out the June low (1.0662) even as the European Central Bank (ECB) unexpectedly delivers a 25bp rate hike, and recent price action warns of a further decline in the exchange rate as it fails to defend the opening range for September. Euro Forecast: EUR/USD Post-ECB Selloff Puts May Low in Focus EUR/USD registers a fresh monthly low (1.0639) as ECB President Christine Lagarde states that Euro Area ‘interest rates have reached levels that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to our target,’ and the comments suggest the ... (full story)