EUR/USD remains under pressure, bounces off fresh lows near 0.9550 – by pabspiovano EURUSD Currencies Majors
The rally in the greenback appears unabated on Monday.now manages to regain some poise and reclaim the area above 0.9600 the figure at the beginning of the week.EUR/USD enters the third consecutive week with losses so far, bouncing off levels last seen in mid-June 2002 around 0.9550 against the backdrop of the persistent upside bias in the greenback.
Across the Atlantic, the Chicago Fed National Activity Index and speeches by FOMC’s Collins, Bostic and Mester are also due.EUR/USD remains under heavy pressure against the backdrop of the unabated rally in the greenback. The pair dropped to levels last seen in June 2002 around 0.9550, leaving the door open to the continuation of this trend in the very near term at least.
Furthermore, the increasing speculation of a potential recession in the region - which looks propped up by dwindling sentiment gauges as well as an incipient slowdown in some fundamentals – adds to the sour sentiment around the euro: Germany IFO Business Climate, ECB Lagarde – ECB Lagarde – Germany GfK Consumer Confidence, ECB
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