The fall of the euro after the decision to raise interest rates from the European Central

New York-SANA

The Euro fell against the Dollar today after the European Central Bank raised interest rates by 50 basis points, in line with expectations, while the Bank of England adopted a softer tone towards inflation.

Reuters reported that the euro fell 0.64 percent to $1.0920, while the pound sterling fell 0.68 percent to $1.2290.

The dollar index rose 0.61 percent against a basket of currencies to 101.56.

The European Central Bank intends to raise interest by the same amount at least once again next month, in order to assess the course of its monetary policy in the next period.

The Bank of England raised interest rates by 50 basis points as well, signaling a shift in the tide in Britain's battle to combat high inflation, forcing investors to reduce their bets on further monetary tightening.

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