ECBs Simkus: At least one more rate hike required

<p>ECB's Simkus via CNBC is saying:</p><ul><li>At least one more rate hike is required.</li></ul><p>Nothing new as ECBs Lagarde said a July hike was likely after the last meeting. The question going forward is if one hike is the "least", what might be the "most". That is the unknown.</p><p>The EURUSD is still mired in a narrow 33 PIP trading range for the day. That is well below the 22-day average (about a month of trading), 72 pips. That early New York session highs, the price toyed with breaking above its 200-hour moving average currently at 1.09169. However, the buying dried up and the price over the last 4 hourly bars has been modestly below that moving average level tilting the short-term bias back to the downside.</p>

This article was written by Greg Michalowski at www.forexlive.com.