EUR/USD halts its four-day losing streak, trading around 1.0920 during the Asian session on Monday.
EUR/USD holds gains despite increasing risk aversion sentiment on Monday. Israeli intelligence expects Iran to launch an attack within the next few days. Fed Governor Bowman suggests that the central bank may not be prepared to cut rates in September. Traders await the preliminary Gross Domestic Product data for the Eurozone 's second quarter, which is set to be released on Wednesday.
The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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