Schroders strategist James Billson said the euro fell to a 17-month low versus the dollar and near a 19-month low versus the pound after the ECB decision and could continue to trade under pressure. The ECB left rates unchanged but signalled caution on further hikes, citing tighter financial conditions and a weaker growth outlook. Billson said the ECB faces a pronounced policy dilemma—downside growth risk alongside still-elevated inflation—and while a December rate hike remains possible, the prob

Schroders strategist James Billson said the euro fell to a 17-month low versus the dollar and near a 19-month low versus the pound after the ECB decision and could continue to trade under pressure. The ECB left rates unchanged but signalled caution on further hikes, citing tighter financial conditions and a weaker growth outlook. Billson said the ECB faces a pronounced policy dilemma—downside growth risk alongside still-elevated inflation—and while a December rate hike remains possible, the probability of another increase is declining. He added Schroders remains bearish on the euro.