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EUR/USD Inches to New Highs on ECB Sources

ECB
  • EUR rallies further, with Bund futures coming under pressure and hitting fresh lows as Reuters reports that some ECB policymakers want to discuss a 75bps rate hike at next month's policy meeting due to a deterioration in the inflation outlook.
  • The piece adds that some policymakers are pushing for faster tightening even as recession risks loom. Nonetheless, one source is quoted as saying "I won't necessarily back 75 but there is no reason it shouldn't be discussed"
  • Euribor strip immediately comes under pressure on the headline, before prices bounce off the lows.

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