EUR/USD starts the week by extending its gains, trading around 1.0520 during the Asian session on Monday.
EUR/USD remains stronger as the Fed is widely expected to deliver a 25 basis point rate cut on Wednesday. The CME FedWatch tool suggests full pricing in a quarter basis point cut at the Fed's December meeting. The Euro appreciated after President Emmanuel Macron appointed centrist ally François Bayrou as France's Prime Minister.
The Euro gained support after President Emmanuel Macron appointed centrist ally François Bayrou as France's Prime Minister, raising hopes for political stability. Macron had pledged to quickly select a new candidate for the role after Michel Barnier was forced to resign following a confidence vote in Parliament. On Friday, European Central Bank Governing Council member Robert Holzmann said that cutting interest rates solely to stimulate the economy would be a mistake.
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