Now: Dollar on the Lower Point

The markets end up with chopping session yesterday as the US Market was enjoying the holidays. The greenback on other hand ending the day with a modest loss against other major currencies.

Yesterday European Central Bank (ECB) President, Christine Lagarde, stated in her speech that the central bank intends to hike the rate by 25-basis points in up-and-coming July policy meetings. She even added that they will add another hike on the rate in the September meeting as the inflation situation is still considerably high.

The geopolitical tension between Russia and the Union has disturb the energy supply to the EU. The possibility of back to the coal-fired power plants as alternative back in the talk as to counter the rising of the crude oil price.