SINGAPORE, June 28 Reuters The euro held onto its recent gains on Tuesday ahead of European inflation figures this week that are expected to run hot and a speech from central bank chief Christine Lagarde, while a rally in oil prices boosted commodity currencies.

The euro rose 0.28 overnight and at one point poked above its 50day moving average. It last sat at 1.0574.

The dollar held modest overnight gains on other currencies and traded at 135.33 yen and 0.693 per Australian dollar in the Asia session.

German inflation figures are due on Wednesday, French data on Thursday and euro zone numbers on Friday. European Central Bank President Lagarde is also due to speak at the ECB forum in Sintra, Portugal, at 0800 GMT on Tuesday.

This set of inflation data will have a significant influence on the ECB39;s monetary policy forward guidance, especially on the trajectory … of its interest rate hike cycle that is expected to kick start in July, said CMC analyst Kelvin Wong.

Hike expectations have the euro trading firmly against the yen, and it last bought 143.1 yen close to last week39;s sevenyear high of 144.24.

It also has momentum on sterling and has gained 1.2 this month to 86.18 pence.

The weak spot is against the Swiss franc which has rocketed to test parity on the common currency following a surprise rate hike by the Swiss National Bank earlier in June.

Elsewhere, a third straight day of gains for oil helped the Canadian dollar reach C1.2858 versus its U.S…