ECB's Simkus sees 'at least one more’ rate increase

The euro's rebound toward $1.16 reflects improving risk sentiment after the U.S.–Iran peace framework and the reopening of the Strait of Hormuz eased fears of a prolonged energy shock. Falling oil prices have also reduced the urgency for aggressive ECB tightening.

Still, Simkus' comments suggest policymakers are not ready to declare victory over inflation. His call for at least one more rate hike shows that the ECB remains focused on keeping inflation expectations under control, even as markets scale back expectations for further tightening. Nagel's warning that oil supplies will take time to normalize also suggests inflation relief may not come immediately.

For now, the euro is benefiting from a weaker dollar and improving sentiment, though expectations for additional ECB hikes appear more moderate than they did a few weeks ago.

The first resistance appears at 1.1625, while the support starts at 1.1565.

R1: 1.1625 S1: 1.1565
R2: 1.1720 S2: 1.1540
R3: 1.1750 S3: 1.1500

the phrase "at least" doing some heavy lifting here