Euro Rises on Hawkish ECB Outlook Despite Strong US Dollar

The Euro has continued its upward trend against the US Dollar for the third consecutive day, trading around 1.1680 during Asian hours on Friday.

The strong economic fundamentals in the Eurozone are bolstering the currency's value, with upcoming data releases from Germany and the broader Eurozone being closely watched for further directional cues.

European natural gas prices have soared due to supply shortages in the Middle East, keeping inflationary risks elevated. This has prompted some to predict that the European Central Bank will continue raising interest rates throughout the year.