The euro soared yesterday against the dollar and the yen after comments from the head of the German central bank, Joachim Nagel, anticipating further “significant” rate hikes in the eurozone to counter inflation. In the morning, the euro jumped against the greenback by 1.33% to 1.01 dollar, its highest for three and a half weeks, and against the Japanese currency by 1.52% to 145.25 yen. “The ECB should raise its rates according to the comments of the last days” of members of the ECB, underlines Craig Erlam, analyst of the platform of brokerage of currencies Oanda. He believes that there is also a technical adjustment at work in the strong rebound of the European currency, in reaction to its fall to its lowest level in 20 years in recent weeks. “The step taken on Thursday” by the European Central Bank to raise its key rate by 0.75 percentage points “constituted a significant signal”, declared Joachim Nagel, who considers it “possible” that Germany slips into recession. from 2022.
The euro soared yesterday against the dollar and the yen after comments from the head of the German central bank, Joachim Nagel, anticipating further “significant” rate hikes in the eurozone to counter inflation. In the morning, the euro jumped against the greenback by 1.33% to 1.01 dollars, a highest for three and a half weeks, and against the currency…