Mitsubishi UFJ: Prospect of continued rate hikes by the European Central Bank may support the Euro.

Derek Halpenny of Mitsubishi UFJ Financial Group stated in a report that due to the persistently high inflation risk, the European Central Bank may still be inclined to further raise interest rates to support the euro. He said that while the volume of oil tanker shipments is increasing, the volume of liquefied natural gas shipments is not. "The European Central Bank will closely monitor energy prices, and since the extension of the ceasefire agreement between the US and Iran and the reopening of the Strait of Hormuz, the decline in prices is not enough to eliminate inflation risks related to energy." The euro rose 0.2% to $1.1452.