EUR/USD jumps above 1.0900 and reaches a new four-month high in Wednesday’s European session.
EUR/USD moves higher to near 1.0950 as investors see a Fed rate cut in September as a done deal. Better-than-expected US Retail Sales report fails to diminish Fed rate-cut prospects. The ECB is expected to leave interest rates unchanged on Thursday. EUR/USD jumps close to 1.0950 and reaches a new four-month high in Wednesday’s European session.
The ECB is expected to leave interest rates unchanged. Therefore, investors will pay close attention to commentary on the interest rate outlook to know when the ECB will cut interest rates again. The ECB delivered its first rate cut in June after maintaining a restrictive interest rate framework for two years to tame hot inflationary pressures driven by coronavirus pandemic-led stimulus.
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