Euro reaches Highest Level in Two Months, Surpasses 1.09 Dollars

Central Bank Governors Speak Out on Potential Interest Rate Increase

On January 25, 2023, market risk aversion following the sale of dollars after the Bank of Canada announced that inflation has reached its capacity signals the end of the interest rate hikes. The euro was trading at $1.0896.

Bundesbank President Joachim Nagel believes that the European Central Bank should pursue further rate hikes to respond to high inflation rates and reassurances that lower prices will take years to dominate. The ECB is set to raise interest rates 50 basis points after the February and March meetings.

Central Bank of Ireland Governor Gabriel Makhlouf and Bank of Slovenia Governor Bostjan Vasle also see a need to raise the rates in tread with December’s hike. The euro was exchanged between 1.0858 and 1.0922 dollars.

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