EUR/USD remains steady with a positive bias, hovering around 1.0600 during Tuesday's Asian trading hours.
EUR/USD maintains its position as the US Dollar continues its downward correction. The US Dollar’s downside appears restrained due to dampened odds of an imminent Fed rate cut. ECB President Lagarde stated that Europe should pool its resources in areas such as defense and climate. EUR/USD remains steady with a positive bias, hovering around 1.0600 during Tuesday's Asian trading hours.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . 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.
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