Euro Slips From 2-week Highs as Mood Turns Sour

U.S. dollar and euro banknotes are seen in this illustration taken on July 17, 2022. Dado Ruvic/Reuters

LONDON—The euro slipped from two-week highs on Wednesday, as investors braced for a crucial European Central Bank policy meeting on Thursday after policymakers floated the prospects of a 50 bps interest rate hike.

The single currency has rallied more than 3 percent in the last four trading sessions on expectations the European Central Bank (ECB) could deliver a big 50-bps rate hike.