The EUR/USD pair extends its downside near 1.0620, bouncing off the Year-To-Date (YTD) low of 1.0600 during the early Asian session on Wednesday.
EUR/USD remains on the defensive around 1.0615 in Wednesday’s early Asian session. Fed’s Powell said it's appropriate to allow restrictive policy to continue to work, given the strength of the labor market. ECB’s Lagarde noted the central bank remains on course to cut rates in the near term, subject to any major shocks. The EUR/USD pair extends its downside near 1.0620, bouncing off the Year-To-Date low of 1.0600 during the early Asian session on Wednesday.
4% MoM in March, compared to the 0.4% increase recorded in February, in line with market expectation. Across the pond, there is growing speculation that theEuropean Central Bank will start lowering interest rates in June due to a weak Eurozone economic outlook and cooling core inflationary pressures. ECB President Christine Lagarde said on Tuesday that the central bank remains on course to cut interest rates in the near term, subject to any major shocks.
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