Euro Rises to $1.17 as ECB Leaves Options Open

2026-04-30 12:27 By Joana Ferreira 1 min. read

The euro edged up to $1.17, recovering from three-week lows and heading for a monthly gain of over 1% against the dollar, after the ECB held interest rates as expected but left all options open for its June meeting and beyond.

Policymakers noted that while recent data aligned with their inflation outlook, upside risks to inflation and downside risks to growth have intensified.

At the press conference, ECB President Christine Lagarde said the hold was unanimous, though a hike was debated, and policymakers agreed they are "moving away" from the baseline scenario.

Money markets anticipate around 75 basis points of hikes by year-end.

On the data front, Eurozone inflation rose to 3% in April, the highest since September 2023 and well above the ECB’s 2% target.

Meanwhile, the bloc’s economy unexpectedly slowed in Q1, growing just 0.1%, as the Middle East conflict disrupted energy supplies.



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