The EUR/USD pair slid below the 1.0700 mark for the first time in over a month on Friday, as the US Dollar surged on the back of risk aversion.
European jitters undermined demand for the Euro, ECB rate cut started weighing. US Dollar runs as inflation eases and despite fresh hopes for interest rate cuts. EUR/USD not done falling despite trading at its lowest in over a month. The dismal mood prevailed throughout the week, with a short-lived exception on Wednesday when softer-than-anticipated United States inflation brought a breath of fresh air.
20%, its lowest since late in March, while the 2-year note yields roughly 4.70%, a level that was last seen in early April. The dismal mood among European investors added to US Dollar demand these days amid political turmoil in the Old Continent. European turmoil hits the Euro Far-right victory in Europe continued to take its toll on the shared currency.
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