Monex

Pressed by persistently high inflation in the eurozone, the European Central Bank on Thursday may opt to double up on the 25 basis point rate hike that it has flagged already. Financial markets are increasingly bracing themselves for such a major increase, citing among others the euro’s recent weakness against the dollar.

The London-based foreign exchange specialist Monex has opened an office in Luxembourg to serve its EU-based clients after the Brexit transition period ends on 31 December.

The presence in Luxembourg will enable Monex to continue to provide foreign exchange and international payment services to customers based in Europe without any disruptions, said Monex Europe CEO Nick Edgeley.

The dollar will depreciate by another 10-15% over the next 3 to 5 years as the election of Joe Biden as the 46th president of the United States has drastically reduced the risk of a trade war, according to currency strategist Aaron Hurd of State Street Global Advisors.