The EUR/USD pair plummeted below the 1.0700 level during European trading hours on Wednesday, down roughly 250 pips from its Asian peak, as the US Dollar soared on the back of Donald Trump’s victory in the United States (US) Presidential election.
EUR/USD Current price: 1.0688 Former President Donald Trump won the 2024 presidential election, secured 277 electoral votes. Speculative interest ignored encouraging European data, focus shifts to Fed ’s decision. EUR/USD is poised to extend its slide despite extreme oversold conditions in the near term. The EUR/USD pair plummeted below the 1.
The Eurozonealso reported that the Producer Price Index declined 0.6% on a monthly basis in September,down from a year earlier by 3.4%. The US will not publish relevant databut the Federal Reserve is undergoing a monetary policy meeting and will announce its decision on Thursday.
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