©Reuters. Stock image of 100 euro bills. November 16, 2017. REUTERS/Leonhard Foeger
Por Saikat Chatterjee
LONDON, June 28 (Reuters) – The Australian and Canadian dollars rose on Tuesday as prices rose, while the euro traded below $1.06, as European Central Bank (ECB) President Christine Lagarde, did not offer new perspectives on the entity’s policy.
* The ECB is expected to follow the lead of its global peers and raise interest rates in July to curb accelerating inflation, though economists are divided on the size of the hike to protect a struggling economic recovery due to high oil prices.
* Crude oil has risen 10% in just one week on supply constraint concerns, sending the Canadian dollar and Australian dollar up 0.3% and 0.4% respectively .
* “Oil is helping the Norwegian krone and Canadian dollar move higher, with the euro hitting resistance again at the 1.06 level,” Kenneth Broux, currency strategist at Société Générale (EPA:) said in London.
* The euro traded below $1.06 after Lagarde said the ECB will act gradually, but with the option to act decisively on any deterioration in inflation over the medium term, especially if there are signs of dis-anchoring. of inflation expectations.
* The hit a two-decade high of 105.79 this month and was trading flat at 103.93.
* Elsewhere, the yuan rose after China eased the COVID lockdown for international travelers.
GRAPHIC: Dollar King https://tmsnrt.rs/3QOmsLj
Exchange rates in the world http://tmsnrt.rs/2hzquG7
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(Edited in Spanish by Carlos Serrano)