Forex
Dollar Rebounds Amid ECB Rate Hike Expectations
The US dollar has recovered from its dip to almost JPY153.30-154.15 in Europe, as investors await the outcome of the ECB meeting.
The euro reached a high of $1.1655 yesterday, its best level since August 28, but is currently trading within a narrow range of less than 20 ticks above $1.1620.
The likelihood of an ECB rate hike today is almost certain, and the door to another increase in December must remain open or else the euro may experience a sharp decline.