Jin10 data reported on June 30, Monex Europe analysts stated in a report that if European Central Bank President Lagarde expresses doubts about further rate cuts at the central bank forum in Sintra, Portugal, the euro may appreciate further. "Although we doubt whether her monetary policy stance will have a clear and obvious shift, we do believe that she will articulate her views on the conditions necessary to maintain the current policy level." Analysts indicated that her comments may lean towards being "hawkish", prompting the market to reduce rate cut bets and supporting the euro.