The Euro weakens against the Japanese Yen during the North American session after the European Central Bank (ECB) cut interest rates.
ECB 's rate cut to 3% aims to anchor inflation closer to the 2% target amid ongoing economic challenges. Updated ECB forecasts suggest a gradual decline in inflation, with HICP expected to reach 1.9% by 2026. Market attention now turns to ECB President Christine Lagarde's upcoming press conference for further cues. The Euro weakens against the Japanese Yen during the North American session after the European Central Bank cut interest rates.
Conversely, if buyers push the exchange rate above 160.00, this could pave the way to test the Kijun-Sen at 161.07. ECB FAQs What is the ECB and how does it influence 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 for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%.
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