Euro Drops to 1.06 As ECB Projects Hike!
The ECB intends to raise the key ECB interest rates by 25 basis points in July.
This caused the EURUSD pairs to drop to one-week lows, losing over 100 pips in the process.
In addition, the USDJPY soared to a two-decade high as US yields charged higher.
Will we now see a reassessment of the Fed’s monetary policy outlook in the short-term?