Euro Boosted by Potential ECB Rate Hikes

Nomura International, a financial services company, believes that back-to-back interest rate hikes by the European Central Bank (ECB) could boost the euro in the fourth quarter of this year.

According to Dominic Bunning, head of G10 FX strategy at Nomura, a possible increase in interest rates could make the euro more attractive to investors, potentially pushing its value to $1.20 by year-end.

The ECB has been considering raising interest rates as part of its monetary policy to combat inflation and stabilize the economy.