Dollar Rises and Euro Slips After ECB Rate Hike
The US dollar advanced against major currencies while the euro declined after the European Central Bank raised interest rates to combat inflation. The central bank implemented the hike amid rising energy costs linked to ongoing conflict.
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The EUR/USD fell 0.28% to $1.1599 on Thursday afternoon following the European Central Bank's rate increase. The move snapped three straight sessions of losses for the greenback. Global investors recalibrated portfolios after energy shocks rippled across foreign exchange markets.
