The European Central Bank could remain biased towards raising interest rates further, supporting the euro, as inflationary risks remain elevated, MUFG Bank's Derek Halpenny says in a note. While crude oil tanker traffic is picking up, the same cannot be said for liquefied natural gas shipments, he says. "The ECB will be monitoring energy prices and the scale of retracement since the [U.S.-Iran] ceasefire extension was agreed and the Strait of Hormuz reopened is not yet enough to eliminate energy-related inflation risks." The euro rises 0.2% to $1.1452. (renae.dyer@wsj.com)
Dow Jones Newswires
Continued Prospect of ECB Rate Rises Could Support Euro — Market Talk
The European Central Bank could remain biased towards raising interest rates further, supporting the euro, as inflationary risks remain elevated, MUFG Bank's Derek Halpenny says in a note. While crude oil tanker traffic is picking up, the same cannot be said for liquefied natural gas shipments, he…