Monday (Oct 31) subsession, / choppy downside, temporarily traded at 0.9946, down 0.20%.
The European Central Bank is likely to raise interest rates by another 75 basis points at its next policy meeting in December, Dutch President and governing Council member Jan Kernot said on Sunday.
The European Central Bank raised interest rates by 75 basis points to 1.5% last week, the most since 2009.
“We will take another significant action in December,” Mr. Kernot said in an interview with Dutch television’s Buitenhof program, adding that the next rate hike could come at 50-75 basis points.
“We’re not even at the end of the half, we’re still getting rates back to neutral and we’ll have to discuss that at the December meeting.”
Mr. Kernot said the European Central Bank would continue to tighten it next year in an attempt to bring down euro-zone inflation, which is running near 10%.
Short line support at 0.9920- 0.9925, short line important support at 0.9890- 0.9895.
