The EUR/USD pair gains ground to near 1.0350 during the early European session on Wednesday.
EUR/USD edges higherto around 1.0350 in Wednesday’s early European session. Solid US economic data supports a Fed rate pause, which could lift the USD. Markets expect aggressive rate cuts by the ECB in 2025 despite the rise in inflation. However, the potential upside of the major pair might be limited amid the prospects for slower interest rate cuts by theFederal Reserve in 2025. The Federal Open Market Committee Minutes will be closely monitored later in the 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 . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.
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