Euro hovers as market focuses on ECB meeting

London

THE euro hovered near US$1.24 on Thursday as the dollar recovered after the White House said some countries could be exempted from planned US import tariffs, while traders awaited the outcome of a European Central Bank meeting later in the day.

All eyes will be on the ECB for clues about the speed and timing of monetary tightening and any signs it is starting to grow uncomfortable with the currency's strength. The euro trade-weighted index this week hit its highest since September 2014.