The EUR/USD pair finds some support in the vicinity of the weekly low, around the 1.0525-1.0520 area, and ticks higher during the Asian session on Fri
EUR/USD edges higher during the Asian session and draws support from a modest USD downtick. The uncertainty over the Fed’s future rate-hike path keeps a lid on the US bond yields and the USD. Bets that the ECB is done hiking rates might hold back traders from placing aggressive bullish bets. day. Spot prices currently trade around the 1.0535-1.0540 region, up just over 0.10% for the day, and for now, seems to have stalled the overnight sharp retracement slide from a nearly three-week high.
The European Central Bank policymakers expressed cautious optimism on Thursday that inflation was on its way back to 2% even without more rate hikes. This comes after the ECB signalled in September that the hike, its 10th in a 14-month-long fight against inflation, was likely to be its last. This, along with concerns that the economy was slowing and could even dip into recession, suggests that further ECB rate hikes may be off the table and should cap the EUR/USD pair.
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