The plight of the Euro dollar money exchange rate

The recent announcements coming from the G7 meeting and the ECB spokespersons indicates that there is an ongoing battle between economic growth and inflation. The ECB is very determined to stamp out inflation and has been vigilant with monetary policy. The 1.60 level in the Euro dollar money exchange rate has been tested several times and has not pushed through to higher levels. At this present time it is uncertain as to whether there will be a rate rise or a rate cut. This uncertainty has prompted the Euro to sell off in the past week. If an interest rate rise comes back to the table then this would most likely prompt a rise in the value of the currency.