EUR/USD continues to settle closer to 1.0800 after a misfire in market expectations of Federal Reserve (Fed) Chairman Jerome Powell’s testimony before US Congress on Tuesday.
EUR/USD continues to chill after testing above 1.0840 this week. Fed speak from Fed Chair Powell failed to deliver a dovish-enough stance. US inflation data to be the key print later in the week. EUR/USD continues to settle closer to 1.0800 after a misfire in market expectations of Fed eral Reserve Chairman Jerome Powell’s testimony before US Congress on Tuesday.
In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. 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.
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