Bloomberg sources report: Some ECB members are saying a September hike may be needed

A Bloomberg sources report is out saying that some ECB members are saying a September hike may be needed.

The report sent the EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term back up toward the 100/200 hour moving averages at 1.1003 to 1.1008 area. The high price reached 1.10063, but has backed off again to 1.0992 (see 5 minute chart below with the overlay of the 100/200 hour MAs).

Key resistance continues to hold resistance.

The ECB has said that they still see higher rates with expectations still for a hike at the next meeting in June. However, spreading out to September is not expected.