The euro’s charge towards a three-year high is stumbling as the European Central Bank quashes expectations that it’s anywhere near paring back emergency stimulus. The ECB is increasingly expected by economists and investors to extend its elevated pace of emergency bond-buying at a June meeting, even as the continent’s vaccination programme surges forward and the economy rebounds. That’s putting a damper on prospects for further gains in the common currency, which has risen about 4% against the dollar from a trough in March. Policymakers including Executive Board member Fabio Panetta have signalled a willingness to shrug off near-term inflationary spikes and keep policy loose for the time be
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