The EUR/USD pair refreshes a three-week high slightly above the round-level figure of 1.0900 in Monday’s European session.
EUR/USD prints a fresh three-week high above 1.0900 as Fed rate-cut bets for September surge. Cooling US inflationary pressures have boosted Fed rate-cut bets. Investors await Fed Powell’s speech and ECB policy meeting. Sheer strength in the major currency pair is driven by strong possibility of the Fed eral Reserve to begin reducing interest rates from the September meeting and improved appeal of the Euro ahead of the European Central Bank policy meeting, which is scheduled for Thursday.
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. 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.
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