The Euro is Down
The Euro is hovering at a very important level, and may disappoint some investors. On the one hand, the European Central Bank (ECB) has raised its interest rate by only a quarter of percent to 3.75%, which was expected. So, tighter lending conditions will have an additional impact on the economy. ECB’s deposit rate has been raised to 3.25%. This should support the growth of the Euro. On the other hand, the ECB has slowed down the pace of interest rate hikes after the inflation rate fell for the first time in 10 months. So, a rather cautious interest rate move by the ECB has pushed the single currency down.
As a first reaction, I would rather prefer to sell the single currency at 1.09.
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