EUR/USD drifted into the low side on Wednesday, dipping below 1.0400 before getting pushed back into touch range of the day’s opening bids.
EUR/USD eased slightly lower on Wednesday after testing the low side. The Fed held rates steady, as markets broadly expected. With the Fed ’s latest rate call out of the way, markets await key US data to see if they were right. The Fed eral Reserve delivered little of note in its latest rate call, sparking a slight uptick in volatility but little meaningful momentum as Fiber traders await actual changes in interest rates, or at least some signal that they might be coming.
It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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