The upward momentum in the Greenback resumed on Thursday, triggering a notable correction to the area beyond the 104.00 barrier for the USD Index (DXY).
EUR/USD sharply reversed Wednesday’s gains. The Dollar regained traction following the FOMC sell-off. The German economy flirts with recession. The upward momentum in the Greenback resumed on Thursday, triggering a notable correction to the area beyond the 104.00 barrier for the USD Index .
However, the pace of subsequent interest rate cuts may vary, leading to potentially divergent strategies between the two central banks. Nevertheless, the ECB is not anticipated to significantly lag behind the Fed. Overall, the relatively sluggish fundamentals of the euro area, coupled with the resilient US economy, reinforce expectations of a stronger Dollar in the medium term, especially as both the ECB and the Fed potentially implement their easing measures nearly simultaneously.
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