Euro Posts Second Consecutive Monthly Gain Amid ECB Rate Hike Expectations

The euro is experiencing a second consecutive monthly gain, rising 0.15% against the US dollar to $1.1594 in European trading on Monday.

This increase comes as investors expect the European Central Bank to raise interest rates in September for the second time this year, aiming to counter inflationary pressures linked to recent energy price hikes.

To gauge these expectations, key German inflation data for August will be released later today, followed by eurozone-wide headline inflation figures tomorrow.