The euro gained 1.08% to $1.0991, the highest since Nov. 29. It is on track for its biggest daily percentage gain since Nov. 14.
The ECB kept rates steady and pushed back against bets on imminent cuts to interest rates on Thursday by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations.
“The ECB was unable to “out-dove” yesterday's pivot by the Fed. The ECB continues to signal that rate hikes are done but their updated economic projections show no reason to hurry towards less restrictive policy,” said Samuel Zief, head of global FX strategy at JPMorgan Private Bank in London.
The ECB kept rates steady and pushed back against bets on imminent cuts to interest rates on Thursday by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations.
“The ECB was unable to “out-dove” yesterday's pivot by the Fed. The ECB continues to signal that rate hikes are done but their updated economic projections show no reason to hurry towards less restrictive policy,” said Samuel Zief, head of global FX strategy at JPMorgan Private Bank in London.
