The euro is falling after Lagarde's comments

The euro fell today after European Central Bank President Christine Lagarde said the central bank will act gradually but with the option to act decisively on any deterioration in inflation in the medium term, especially if there are signs of waning inflation expectations. The single European currency fell against the US dollar by 0.6% to $ 1.052, and the main dollar index, which measures the performance of the US currency against 6 major currencies, rose 0.51% at 104.490.

The European Central Bank is widely expected to follow in the footsteps of its global peers by raising interest rates in July to try to stem rising inflation, although economists are divided over the size of any rate hike.