German bank: Euro may rise as European Central Bank keeps interest rates unchanged and the Federal Reserve is expected to cut rates.

Volkmar Baur of Deutsche Bank said in a report on Thursday after the European Central Bank kept rates unchanged that the euro may rise against the US dollar as the ECB is unlikely to further cut rates. He noted that the ECB slightly raised its growth and inflation expectations in its Thursday decision, dispelling any speculation about further rate cuts. He stated, "Given that we still expect the Fed to cut key rates multiple times over the next year, the ECB's wait-and-see stance should be enough to boost the euro." With the dollar strengthening, the euro fell 0.1% to $1.1715.