The EUR/USD pair extends the rally to 1.0885 during the early Asian session on Friday.
EUR/USD edges higher to 1.0885 in Thursday’s early Asian session. US inflation increased slightly in September and moved closer to the Fed’s target. ECB policymakers expect a temporary increase in inflation later this year. The uptick of the major pair is bolstered by the weakening of the US Dollar . All eyes will be on the US Nonfarm Payrolls , which is due later on Friday. The US Personal Consumption Expenditures Price Index, rose 2.1% on a yearly basis in September, compared to 2.
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. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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