ECB Tightening Outlook Supports Euro Against Dollar: BNY

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BNY's Geoff Yu highlights that European Central Bank Executive Board member Isabel Schnabel sees further rate hikes as necessary, with Euro area inflation risks still tilted to the upside and growth more resilient than expected. This hawkish stance from the ECB provides support for the Euro against the US Dollar, as the market anticipates continued monetary tightening from the central bank.

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ECB's Schnabel signals further rate hikes, boosting yields.