Euro rises as report says the ECB very likely to hike in June
The euro is rising after ECB sources cited by Reuters said:
- June hike "very likely" and policymakers were in broad agreement
- Some already advocated for a hike (Lagarde hinted at this)
- Several Governors think at least two hikes will be needed unless the war ends and Brent quickly drops
- Governors discussed the required amount of tightening
The headline said the policymakers "see the first of several hikes in June" and that they're likely to hike "at least twice" unless there is a favorable resolution to the Iran war and oil prices drop.
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