EUR/USD drove up 0.4% on Tuesday, breaching back above 1.1100 for the first time since last December, chalking in a fresh high for 2024.
EUR/USD climbed four-tenths of one percent on Tuesday. Markets are broadly pivoting into a risk-on stance, pressuring the US Dollar. Investors will be craning their necks for signs of Fed rate cuts. The pair has closed firmly in the green for three straight trading days, and is on pace to climb a full percent since Monday’s opening bids.
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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