Commerzbank's Volkmar Baur said in a report after the ECB kept interest rates unchanged on Thursday that the euro may rise against the US dollar because the ECB currently seems unlikely to cut interest rates further. He said the ECB slightly raised its growth and inflation expectations in Thursday's resolution, which dispelled any speculation that the central bank might cut interest rates again. “As we still expect the Federal Reserve to cut key interest rates several times over the next year, the ECB's wait-and-see stance should be enough to give the euro a little boost. “As the dollar strengthened, the euro fell 0.1% to $1.1715.

Commerzbank's Volkmar Baur said in a report after the ECB kept interest rates unchanged on Thursday that the euro may rise against the US dollar because the ECB currently seems unlikely to cut interest rates further. He said the ECB slightly raised its growth and inflation expectations in Thursday's resolution, which dispelled any speculation that the central bank might cut interest rates again. “As we still expect the Federal Reserve to cut key interest rates several times over the next year, the ECB's wait-and-see stance should be enough to give the euro a little boost. “As the dollar strengthened, the euro fell 0.1% to $1.1715.