Euro Hovers Ahead of ECB Meeting, Yen Looks Past BOJ Doveson October 28, 2021 at 9:55 am

LONDON—The euro dipped below $1.16 ahead of the European Central Bank meeting on Thursday as investors wait to hear policymakers’ views on the outlook for inflation and an expected push back against rising interest rate projections. On a busy day for central bank-driven activity, the Australian dollar dipped on growing speculation about the Reserve Bank of Australia’s tightening plans while the yen was unruffled after the Bank of Japan stuck with its dovish stance. Analysts expect the ECB to push back against growing expectations for a rate hike next year, even though it may admit that inflation will be higher than projected. Euro zone inflation expectations are also soaring, with one market gauge hitting a seven-year high this month. The euro was down marginally at $1.1599 by 0705 GMT. The dollar index was little changed at 93.863. “Most in the market probably expect some kind of pushback against the market …

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