The European Central Bank slowed the pace of interest rate hikes today, Thursday, and raised them by 25 basis points, the lowest rate since it started raising them last summer .
The ECB has not explicitly disclosed its commitment to further rate hikes and has kept its options open on its moves in continued attempts to rein in inflation.
price movements
The euro fell 0.35% last session to $1.10260, after a session in which it saw no significant change ahead of the European Central’s decision.
The pound settled in recent trades at $1.2566, but in Asian trades it had hit $1.2595, the highest level since June 2022.
The Swiss franc reached 0.88215 against the dollar, its highest level since January 2021, before retreating thereafter.
The cautious mood kept the Japanese yen, a traditional safe haven during turbulent markets, well supported, hitting 134.7 against the dollar.
The dollar fell 1.4% against the yen on Wednesday as the Japanese currency, which is interest rate sensitive, was supported by lower yields on US Treasuries.
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