As the Asian session begins, the Euro (EUR) extends its losses by a minuscule 0.01% against the US Dollar (USD) as market participants prepare for the
US Federal Reserve’s decision. The Greenback stages a comeback propelled by a jump in US Treasury bond yields. The EUR/USD is trading at 1.0677, following Tuesday’s losses of 0.12%.
Given that recent data in the United States showed the robustness of the economy, with a hot jobs market, improvement in business activity, and consumer spending expanding – though at a lower rhythm – are reasons for the Fed Chair Powell and Co to keep “at it,” and hold rates higher for longer.
Across the pond, the Eurozone economic docket revealed inflation data. The Harmonised Index of Consumer Prices for August came at 5.2% YoY, below 5.3% estimates, while core HICP stood at 5.3% unchanged, aligned with estimates.
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