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Euro set for best week since May after ECB opts for big hike - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The euro headed for its best week since May on Friday after the European Central Bank (ECB) raised borrowing costs more than expected overnight in its first rate hike since 2011.

However, the single currency was well off Thursday’s knee-jerk peak after ECB President Christine Lagarde said that while the monetary authority was moving faster than previously signalled, the terminal rate had not changed.

“The details, conditionality and what would justify activation was vague and did little to inspire confidence in light of the Italian political situation,” Tapas Strickland, a markets economist at National Australia Bank, wrote in a note. The single currency eased 0.2% on Friday to $1.0205, giving back a little of the previous session’s 0.5% advance, but remained on course for a 1.21% weekly rally.

Japan’s currency, which is particularly sensitive to changes in US yields, headed for its first winning week since late May.

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日本 最新ニュース, 日本 見出し

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