ECB sources: a ‘visible majority’ in ECB meeting expressed preference for holding in July

• Some argued for a pause beyond July

This is the second sources line with similar reporting, though this is more granular. The market is pricing in a 20% chacne of July cut, so this is no surprise. The baseline for the ECB is now ‘one and done’ with a cut priced for Oct or Dec.

This article was written by Adam Button at www.forexlive.com.