The consistent appetite for the risk-associated universe put the US Dollar (USD) under extra downward pressure, allowing further breathing room for EUR/USD on Wednesday.
EUR/USD resumed its upward bias and rose to the 1.0960 zone. Renewed selling pressure kept the US Dollar subdued. Bets for an ECB rate cut in June remained on the rise. The consistent appetite for the risk-associated universe put the US Dollar under extra downward pressure, allowing further breathing room for EUR/USD on Wednesday. That said, spot rose to three-day highs in the 1.
His colleague Kazaks warned of significant uncertainty and that a decision on rates will be made in upcoming meetings, highlighting the need to avoid excessive postponement of the rate reduction. In conclusion, the relatively sluggish fundamentals of the euro area, juxtaposed with the resilient US economy, reinforce the anticipation of a stronger Dollar in the medium term, particularly as both the ECB and the Fed potentially introduce their easing measures almost simultaneously.
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