The EUR/USD pair failed to extend its recovery gains and resumed its decline to end the week in the red at around 1.0520. The pair bottomed at 1.0447
US macroeconomic data and Middle East tensions revived US Dollar demand. Central banks maintain the course as economies struggle to recover. EUR/USD long-term bearish case is in full fashion after a modest bounce. in early October and aimed to rebound from the level, but the latest developments ended up benefiting once again the US Dollar. Two factors supported the USD these last few days; none were good news.
Central banks on well-known paths Also, the FOMC released the Minutes of the September meeting, which showed policymakers differed on whether any additional interest rate increases would be needed but agreed on the view that rates would need to stay elevated until inflation falls into target. European Central Bank officials were also on the wires and also agreed on something: more rate hikes are still possible in the Old Continent.
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