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The euro rises as the market expects the European Central Bank to end interest rate cuts.
Jin10 data on June 9 reported that ING stated that the prospect of the Eurozone interest rate only being cut once more should support the euro. The European Central Bank indicated in last week's meeting that interest rate cuts are nearing their end. ECB President Lagarde painted a picture of the Eurozone economy still rising despite global uncertainties. Data from LSEG shows that the money market is pricing in only a 25 basis point cut from the ECB, and that it will not happen until December.