Published by Mark Smith-HalvorsenThe euro has risen on the foreign exchange market as speculation grows that the European Central Bank (ECB) will move to raise interest rates again next month.Although a rate decision from the bank is due to be given today, analysts are predicting that a change will be confirmed in July's announcement.The ECB became the first of the world's major central banks to raise interest rates after the global recession when in April it pushed up borrowing costs to 1.25 per cent.Numerous predictions for this month's rate decision suggest that no change will be made.ECB President Jean-Claude Trichet is expected to use today's announcement to hint that a change could come next month.If such a signal is given, the euro is likely to find further support on the foreign exchange market, the head of market economics and strategy at ANZ National Bank in Wellington, Khoon Goh, told Bloomberg.Today's announcement from the ECB is expected at 13:45 CET, with the press conference following 45 minutes later.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site