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The euro gained ground on Thursday, building on the previous day’s gains after hawkish European Central Bank comments fueled expectations that it will soon start scaling back its monetary stimulus program.
EUR/USD was up 0.47% to 1.1829 by 04:03 AM ET (08:03 AM GMT), the highest level since May 22. The euro has risen around 1.47% against the dollar so far this week.
The single currency was boosted after ECB Chief Economist Peter Praet said Wednesday that officials are increasingly confident that inflation is rising back towards the bank’s target and will next week
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