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Euro Bounces on Hawkish ECB Ahead of Powell’s Testimony. Higher EUR/USD?

March 7, 2023

Via: DailyFX

EUR/USD jumped higher to start this week ahead of Federal Reserve Chair Jerome Powell’s testimony to Senate Banking Committee in Washington on Tuesday and Wednesday.

Additional event risk may also lie in the Euro wide GDP figures that will be seen on Wednesday.

Overnight comments from Robert Holzmann boosted the Euro when he said that he could see a 50 basis point lift to rates at the next four European Central Bank (ECB) meetings. Mt Holzmann is a policy maker for the ECB and Governor of Austria’s central bank, the Oesterreichische Nationalbank (OeNB).

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