❗️Euro Gains Ground Against Weakening Dollar, Eyes Further Upside❗️
EUR/USD extends its positive momentum for the fourth consecutive day, reaching its highest level since August 11 at around 1.0960 during the Asian session on Tuesday. The ongoing weakness in the US Dollar (USD), reflected in the near three-month low of the USD Index (DXY), is attributed to the perception that the Federal Reserve (Fed) has concluded its tightening policy.
Additionally, expectations of earlier rate cuts by the Fed in 2024, compared to the European Central Bank (ECB), contribute to the favorable conditions for the EUR/USD pair. Market pricing indicates a potential easing of US policy as early as March 2024, while ECB President Christine Lagarde's emphasis on continued efforts to control inflation contrasts with expectations of an ECB rate cut, reinforcing a positive outlook for the EUR/USD pair.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.