EUR/USD faced renewed and quite marked downward pressure on Wednesday, coming all the way down to retest the 1.1100 neighbourhood on the back of the robust U-turn in the US Dollar (USD).
EUR/USD challenged 1.1100 amidst the resumption of the selling pressure. The Dollar made a sharp comeback and maintained the pair subdued. Germany’s flash Inflation Rate will be published on Thursday. EUR/USD faced renewed and quite marked downward pressure on Wednesday, coming all the way down to retest the 1.1100 neighbourhood on the back of the robust U-turn in the US Dollar . In fact, the Greenback regained balance after Tuesday’s decline from recent 2024 lows near 100.
He advocated for a cautious approach, indicating that while there might be a rationale for easing policy, a final decision has not yet been made. In summary, if the Fed opts for additional or larger rate cuts, the policy gap between the Fed and the ECB may narrow in the medium to long term, potentially boosting EUR/USD, especially since markets anticipate the ECB to lower rates twice more this year.
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