Euro Holds Firm Ahead of ECB Meet Amid Inflation Fears

The euro held steady at around $1.16 against the US dollar on Thursday ahead of the European Central Bank's (ECB) policy meeting, which is expected to provide clues on interest rate hikes due to surging energy prices.

Brent oil hovered above the $100 mark, adding to inflationary concerns. The ongoing US-Iran conflict has increased pressure on central banks to raise rates and curb inflation.

The EUR/USD exchange rate was trading at $1.1639, with a mild weakness in the DXY index supporting gains in the counter.