Euro holds near 2-week high, awaits ECB and Nordstream clarity

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration

LONDON, July 20 (Reuters) – The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.

Both events – the European Central Bank (ECB) meeting and the reopening of the Nord Stream 1 conduit after a 10-day shutdown – are due on Thursday, leaving markets on tenterhooks.

But the euro benefited from news the ECB was considering a 50-basis-point interest rate hike, having earlier flagged 25 bps read more .

On Tuesday the report, citing two sources, helped the euro clock its strongest daily gain in a month. On Wednesday the…