Foreign Currency
Too Little, Too Late?
Early morning yesterday, European investors received a surprise potential leak that the European Central Bank is considering raising interest rates by 0.50%, deviating from its guidance last month of a 0.25% increase, because of a worsening inflation backdrop and the potential for Russia to shut off all gas flows via Nord Stream 1. The market freaked out on this news, pushing the EURUSD rate off parity and back to 1.02 EUR/USD.