EUR/USD moves higher above 1.0780 as the appeal for risky assets improves. The ECB is expected to start reducing interest rates in June. Investors keenly await the US inflation data for fresh guidance on the Fed’s interest rates. The major currency pair holds gains as traders have priced in that interest rate cuts from the European Central Bank will be more and start earlier than the Federal Reserve .
The upward-sloping border of the triangle pattern is marked from the October 3 low at 1.0448. The Symmetrical Triangle formation exhibits a sharp volatility contraction. The 14-period Relative Strength Index oscillates inside the 40.00-60.00 range, suggesting indecisiveness among market participants. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyFX - 🏆 305. / 63 Read more »