Citing sources familiar with the matter, Reuters reported on Tuesday that European Central Bank (ECB) policymakers see a little chance of a pause in rate hikes in July or September amid stubborn inflation.

"Conversations with seven rate-setters at the ECB's annual forum in Sintra, Portugal, showed most expected to increase borrowing costs again at both its July and September meetings despite signs the euro zone economy is flagging," Reuters noted.

Market reaction

EUR/USD clings to its strong daily gains above 1.0950 following this headline.