NEW YORK (dpa-AFX) – The euro defended its increase in value from European business in US trading on Tuesday. The common currency was last traded at $1.0959. The European Central Bank (ECB) had set the reference rate at 1.0951 (Monday: 1.0918) US dollars. The dollar had cost 0.9132 (0.9159) euros.
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ECB President Christine Lagarde again signaled another in the fight against high inflation rate hike. “Our task is not yet complete. Unless the outlook changes significantly, we will raise key interest rates again in July,” she said at a central bank conference in Sintra, Portugal. It is “unlikely that any central bank will be able to declare with absolute confidence in the near future that interest rates have peaked.” The meeting of central bankers lasts until Wednesday afternoon./edh/jsl/he