A decent bounce in EUR/USD left behind six consecutive daily drops, including a new YTD bottom near 1.0600 the figure, regaining the mid-1.0600s in response to some loss of impetus in the Dollar’s rally.
EUR/USD bounced off yearly lows near 1.0600. The Dollar’s loss of momentum lent legs to the risk complex. The ECB - Fed policy divergence dominates the scenario. The recent multi-session strong rally in the greenback occurred as investors re-evaluated the timing of a potential rate cut by the Fed eral Reserve , now anticipated to occur later than previously thought, potentially in December.
Around the Fed, at an event hosted at The Wilson Center in Washington on Tuesday, Chair Powell stated that recent data have not instilled increased confidence in them; rather, they suggest that it will likely take more time than anticipated to gain that confidence.
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