The European Single Currency, euro touched its lowest level since Feb. 12 at $1.2260 earlier on Thursday, February 22,but was last steady on the day at $1.2283.
The Bank of England could end up needing to raise interest rates faster than investors expect, its chief economist told lawmakers on Wednesday, striking a slightly more hawkish tone than his central bank colleagues.
Euro zone business growth remained robust this month, with companies at their most optimistic in more than five years, a private-sector survey showed, despite indications higher prices and a stronger currency were taking a toll.
Meanwhile, the Pound Sterling stayed at a one-week low, as markets grew more convinced that the Bank of England will raise interest rates again in May on the back of an improving economy, though already large bullish positions may temper any big move higher.
The dollar on the other hand, soared to a 10-day highi, after minutes from the U.S. Federal Reserve’s January meeting showed policymakers confident in rising inflation and the need for interest rates to keep increasing.
