30.04.202606:39:28UTC+00Euro Stays Below $1.17 as ECB Meets

The euro traded just below $1.17, its weakest level since April 8, as investors awaited the European Central Bank’s policy decision and assessed new data, including preliminary Eurozone GDP and inflation figures. A surge in Brent crude to four-year highs—driven by reports of possible US military action in Iran—intensified inflation concerns ahead of the meeting. The ECB is widely expected to leave interest rates unchanged on Thursday, but futures markets are pricing in three quarter-point hikes in 2026, reflecting persistent inflationary pressure from the oil shock linked to the Iran conflict. Recent data from the bloc’s largest economies showed inflation quickening in April, largely due to surging energy costs. This follows the Federal Reserve’s decision to keep rates on hold, though the meeting revealed growing internal divisions: four officials dissented, the highest number since October 1992, with three opposing the Fed’s guidance that pointed to eventual rate cuts.