ECB's de Guindos says key for June rate decision will be whether Strait of Hormuz is open

The ECB's de Guindos highlighting the Strait of Hormuz as a key factor for the June rate decision signals increased vigilance on geopolitical risks, particularly related to energy supply flows. If tensions in this region escalate, it could impact inflation dynamics and growth forecasts, potentially leading to a more cautious stance from the ECB. Traders should watch for how this influences market pricing on ECB policy and the euro's performance against competing currencies.