 | |  | | EUR/USD: ECB Signals Sept Rate Hike
London, August 9. At their monthly bulletin the ECB August editorial has spelled out why the central bank stands ready to raise interest rates for a sixth time. Monetary policy is still accommodative and "strong vigilance" is essential to contain inflationary risks, both of which as key phrases the ECB has historically used to signal a rate rise is coming in the next month.
EUR/USD has been slightly underpinned by the news but cross EUR sales continue to add weight to the price. Offers trailing from 1.3780, back to 1.3800, look to cap while bids are seen back from 1.3765 to 1.3750. Only a break outside of 1.3750/3800 is now seen as directional over the medium-term. |  |  |  |  |
|