Dollar rises vs euro as traders eye ECB rate decision

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Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose against the euro on Wednesday in a choppy session, but its gains were capped as traders were hesitant to drive big moves ahead of a crucial European Central Bank policy decision on Thursday. The single currency has rallied about 2% in the last three trading sessions on expectations the ECB might deliver a big 50-bps rate hike and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance. “The euro popped yesterday on the slight possibility that the ECB would consider a 50 basis point hike,” said John Do…

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