The euro reached as high as $1.0927 , breaking the recent peak of $1.08875, to trade at its highest level since April last year. The single currency was aided by European Central Bank (ECB) governing council members Klaas Knot and Peter Kazimir, who both advocated for two more 50 basis point hikes at meetings in February and March. A Reuters survey of analysts also favoured hikes of 50 basis points at the next two meetings and an eventual rate peak of 3.25%, from the current rate of 2%. Investors also have around 50 basis points of U.S. rate cuts priced in for the second half of the year, reflecting softer data on inflation, consumer spending and housing. The pound rose as high as $1.24475 , its highest in seven months, before turning 0.3% lower to $1.2355.

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