Euro pushes higher as ECB chief Lagarde says inflation is still too high

The euro traded higher against the U.S. dollar Wednesday, pursuing comments from the European Central Bank President Christine Lagarde that ostentation is "still high."

The euro was up by astir 0.2% against the U.S. currency astir 9 a.m. London time.

"A sizeable argumentation accommodation is already down us: since July past twelvemonth we person raised involvement rates by 350 ground points. However, ostentation is inactive high, and uncertainty astir its way up has increased. This makes a robust strategy going guardant essential," Lagarde said successful a code Wednesday.

"But the nationalist tin beryllium definite astir 1 thing: we volition present terms stability, and bringing ostentation backmost to 2% implicit the mean word is non-negotiable," she added.

The ECB past week decided to rise its involvement rates by a further 50 ground points, shrugging disconnected turmoil successful the banking sector.

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