EUR/USD stays under modest bearish pressure after posting small losses on Tuesday and trades at its lowest level in over two months below 1.0900 on Wednesday.
EUR/USD stays under modest bearish pressure and trades below 1.0900. The pair could face the next support level at 1.0870. Markets await the European Central Bank's policy announcements on Thursday. Investors could move to the sidelines ahead of the European Central Bank's monetary policy announcements on Thursday, with the economic calendar not offering any high-impact data releases on Wednesday.
What is the ECB and how does it impact 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. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
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