EUR/USD stands tall near 17-month top, just below mid-1.1200s amid bearish USD – by hareshmenghani EURUSD Fed Inflation ECB Currencies
The US Dollar downward trajectory remains uninterrupted for the seventh straight day in the wake of expectations that the Federal Reserve will soon end its policy-tightening cycle. In fact, investors now seem convinced that the US central bank will keep rates steady for the rest of the year after the widely anticipated 25 lift-off in July.
, to a larger extent, offsets emerging signs of a cooling economy and continues to underpin the shared currency, further lending support to the EUR/USD pair.is already flashing overbought conditions and might hold back bulls from placing fresh bets around the major. Hence, it will be prudent to wait for some near-term consolidation or a modest pullback before positioning for any further appreciating move.
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