The dollar climbed on Tuesday and the euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight into the central bank’s policy outlook.

The ECB is widely expected to follow its global peers by raising interest rates in July to try to check soaring inflation though economists are divided on the magnitude of any rate hike.

The euro held below $1.06 after Lagarde said the central bank would move gradually but with the option to act decisively on any deterioration in medium-term inflation, especially if there were signs of a de-anchoring of inflation expectations.