EUR/USD climbs to daily highs past 1.0450 – by pabspiovano EURUSD Currencies Majors
Final PMIs, US ISM Manufacturing next of note in the docket.EUR/USD stronger on USD-selling, looks to data
Indeed, the greenback accelerates its sell-off after Fed’s Powell reinforced the view that a moderation in the pace of future interest rate hikes would be appropriate. So far, a 50 bps interest rate hike at the Fed’s December 14 event looks the most likely scenario. In the meantime, the European currency is expected to closely follow dollar dynamics, the impact of the energy crisis on the region and the Fed-ECB divergence. In addition, markets repricing of a potential pivot in the Fed’s policy remains the exclusive driver of the pair’s price action for the time being.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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