> ECB Kazaks: No reason to pause or stop rate hikes after March

ECB Kazaks: No reason to pause or stop rate hikes after March

The ECB's Lagarde targeted another 50 bps in March

Wednesday, 08/02/2023 | 17:11 GMT-0

ECB Kazaks says:

There is no reason to pause or stop hikes after March
Rates must hit significantly restrictive levels
Markets should listen to Lagarde

Recall, the market sold the EURUSD off last Thursday while ECBs Lagarde was telegraphing a 50 basis point hike at the March meeting (the ECB raised by 50 basis points).

The EURUSD moved from 1.10308 to a low yesterday of 1.0662584 bouncing modestly. Looking at the hourly chart, the price remains below the 50% midpoint of the 2023 trading range at 1.07558. The price low today tested a swing area down to 1.07115 and found support buyers. The current price trades at 1.0730.