Strategist: The European Central Bank's decision is unlikely to impact the euro.

On June 5, foreign exchange strategist Karamanis said that the market has fully digested the impact of the European Central Bank's interest rate cut, and at the same time, European Central Bank President Lagarde is expected to take a cautious wait-and-see attitude. Volatility expectations are currently subdued, and not just because the market expects no surprises from the ECB's decision today. What's more, the traditional link between interest rates and foreign exchange has weakened in recent weeks. This means that even a significant change in money markets' pricing of the ECB's policy path by the end of the year may not be enough to have a substantial shock to the euro.