EUR/USD continued to push higher and following Tuesday's advance and touched its highest level in over two weeks at 1.0630 on Wednesday. Although mark
EUR/USD climbed to fresh multi-week highs above 1.0600 on Wednesday. US Dollar stays under pressure amid retreating T-bond yields. Investors will continue to pay close attention to comments from Fed officials. ets seem to have turned cautious after the latest risk rally, the pair could stretch higher in case Federal Reserve officials refrain from confirming additional policy tightening later in the year.
5% probability of the Fed leaving the policy rate unchanged in 2023, suggesting that the USD has more room on the downside in case investors remain convinced that there will not be another rate increase. The US economic docket will feature the Producer Price Index data for September. Ahead of Thursday's highly-anticipated Consumer Price Index data, however, investors are likely to ignore the PPI readings.
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