The euro rose above $1.16, near its strongest level since late October, as risk appetite improved following the reopening of the US federal government, while investors awaited further guidance on ECB and Fed policy. US President Donald Trump signed a bill late Wednesday ending the 43-day government shutdown, allowing the release of a backlog of US economic data, although Washington cautioned that October employment and inflation figures may not be published. On monetary policy, the ECB is widely expected to hold rates steady, with markets assigning just a 40% probability of a cut by September 2026. ECB Vice President Luis de Guindos emphasized that current rates are appropriate, urging the central bank to remain “very prudent and cautious.” In the US, expectations for a December Fed rate cut eased to around 50%, following the government reopening, signs of a weaker labor market, and divergent views among Fed officials.