💶 $EURUSD holds steady at around 1.0950 early Wednesday after having registered strong gains on Tuesday. ⬇️ Read more about the Euro here!
On Tuesday, ECB President Christine Lagarde's hawkish remarks provided a boost to the Euro. Confirming the ECB's willingness to continue to tighten the policy, Reuters reported that there was little chance of a pause in rate hikes either in July or September. Moreover, Bloomberg said that ECB officials were weighing a faster reduction of the bond portfolio.
On the other hand, the CME Group FedWatch Tool shows that markets are pricing in a nearly 20% chance of the Fed raising the policy rate twice more this year. In case Powell tries to convince markets that a rate hike in July will not bring them to the terminal rate, the US Dollar could gather strength and force EUR/USD to turn south.
In case EUR/USD manages to stabilize above 1.0950 , 1.1000 and 1.1050 could be seen as next targets.Share:Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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