The EUR/USD pair trades with mild gains around 1.0860 during the early Asian trading hours on Monday.
EUR/USD trades stronger near 1.0860 in Monday’s early Asian session. Fed’s key inflation gauge climbed 2.5% in June from a year ago. The chance of anotherECB rate cut might weigh on the Euro. The major pair edges higher as traders widely anticipated the September interest rate cut by the US Federal Reserve in September, which drags the Greenback lower.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. 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.
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