The euro strengthened against most major currencies in the European session on Tuesday, amid expectations that the European Central Bank (ECB) would raise rates this week.
Investors speculate that the ECB will tighten its monetary policy at Thursday's meeting. The slow Eurozone will discourage the ECB from pursuing an aggressive monetary policy; therefore, it is widely anticipated that the bank will raise its deposit rate by 25 basis points to 2.25% amid high inflation and hint at a pause.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.