1157 GMT - The Federal Reserve's upcoming policy meeting likely matters more for the euro's direction against the dollar than the European Central Bank's decision Thursday to raise interest rates, ING's Chris Turner says in a note.The ECB signaled further rate rises and there is speculation of another move in July. However, the euro remains below $1.16 as markets were already pricing in an aggressive ECB tightening cycle and don't want to push that further, he says. Moreover, the market sees a risk the Fed will raise rates later this year. Unless the Fed pushes back against this prospect on Wednesday, the dollar should remain supported, he says. The euro trades flat at $1.1574. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 07:57 ET (11:57 GMT)

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