EUR/USD extended its gains for a third consecutive day, prolonging the optimism seen at the beginning of the week and reaching new highs for 2024 around 1.1120, due to the intense weakness in the US Dollar (USD).
EUR/USD climbed further and reached new 2024 peaks past 1.1100. The Dollar extended its decline and flirted with YTD lows. The final Inflation Rate in the EMU matched the preliminary readings EUR/USD extended its gains for a third consecutive day, prolonging the optimism seen at the beginning of the week and reaching new highs for 2024 around 1.1120, due to the intense weakness in the US Dollar . In fact, the Greenback saw a further decline, falling well below the key 102.
Around the Fed, Governor Michelle Bowman expressed caution on Tuesday regarding any changes to central bank policy, citing ongoing upside risks to inflation. She warned that reacting too strongly to a single data point could jeopardize the progress made in controlling inflation.
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