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- Euro falls back after surging last week
- Analysts say ECB turn is big deal for single currency
- Dollar edges down, traders await Thursday CPI data
NEW YORK, Feb 7 (Reuters) – The dollar and the euro both eased on Monday after European Central Bank President Christine Lagarde calmed market expectations of a quick hike in interest rates that pushed regional bond yields in Europe up to multi-year highs.
There is no need for big monetary policy tightening in the euro zone as inflation is set to decline and could stabilize around the ECB’s target of 2%, Lagarde told a European Parliament hearing. read more
Last week the ECB opened the door to a rate hike later in 2022 as inflation…