The euro strengthened slightly yesterday after hawkish comments from the European Central Bank’s Chief Economist, Philip Lane, but has weakened against the dollar this morning.
Lane revealed that as well as an interest rate hike of 25 basis points in July, the Bank is considering a larger hike of 75 basis points in September. ECB President, Christine Lagarde, confirmed yesterday that a rate hike is still expected in July and also mentioned another scheduled for September.
There will be more speeches from ECB officials today and consumer confidence figures for the eurozone will be released this afternoon. Consumer confidence is expected to show a slight improvement in June.
