ECB to hike rates this week

It’s rates week again in Europe with the ECB expected to raise rates by 25 bps on Thursday and the BOE expected to keep UK rates unchanged. I’d expect most of this to already be written in to the relevant exchange rates.

Moderate offers near 1.4550 are slowing EUR/USD progress so far this morning. Regional stockmarkets are expected to open higher which should give the risk trades like EUR/JPY and AUD/JPY a bit of a boost.