Euro dips on steady ECB rates, Dollar gains on US data

The European Central Bank’s (ECB) decision to keep interest rates steady has led to a decline in the euro, while the dollar has strengthened following positive data on the US labour market and manufacturing.

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The ECB’s decision was widely expected, but the lack of insight into its next move has left markets searching for clues.

ECB President Christine Lagarde’s comments suggest that domestic price pressures remain high, and inflation will continue to exceed the bank’s target well into next year. This has led to speculation about the bank’s next move, with some analysts suggesting that the ECB may be cautious in its approach to rate cuts.