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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