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ECB’s Nagel: Interest rate level is not restrictive
Source Fxstreet
Joachim Nagel, President of the Bundesbank and member of the ECB’s Governing Council (GC), argued that the bank’s current interest rate level is not considered as restrictive.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Gold price (XAU/USD) prolongs the uptrend for the fourth consecutive day and climbs to a nearly two-week high, around the $3,344-3,345 area during the Asian session on Thursday.
GBP/USD is depreciating after the mixed S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) data was released on Thursday. The pair has maintained its position near 1.3468, the highest since February 2022, reached on Wednesday, and is trading around 1.3410 during the European hours.
EUR/USD faces selling pressure and falls to near 1.1310 during European trading hours on Thursday. The major currency pair drops as the Euro (EUR) underperforms after the release of the surprisingly weak preliminary Eurozone HCOB Purchasing Managers’ Index (PMI) data for May.