Euro's Slip Against Dollar Signals June Rate Cut Imminent, ECB Hints

The Euro dipped by 0.15% against the Dollar to end the week trading at 1.084. A June rate cut is now fully priced in by markets following comments by a number of ECB members in the past week. Chief economist, Philip Lane, noted that a recent spike in wage growth is not a big cause for concern as overall trends still point to a deceleration in wage and price pressures. Wage growth is one of the key points the central bank has previously set out as an indicator for the timing of potential rate cuts. Members were coy on the potential for further rate cuts after the ECB meeting next week, insisting future decisions will be data dependent.