EUR/USD Holds Above 1.0800 Amid Weaker US Dollar and Upcoming Economic Data
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#acbb1c95 ver:0.39
The EUR/USD currency pair is currently trading at 1.0816, up 0.08% on the day, as the US Dollar weakens. The pair has managed to hold above the key support level of 1.0800 despite increased volatility in recent days. The Federal Open Market Committee (FOMC) decided to keep interest rates unchanged at 5.25–5.50% for the fifth consecutive meeting. Fed Chair Powell stated that the recent elevated CPI inflation data has not changed the view that inflation is trending lower. On the other hand, ECB Governing Council member Edward Scicluna suggested that an interest rate cut from the ECB in April could be warranted and should not be ruled out. Traders are now focusing on upcoming economic data, including the Chicago Fed National Activity Index, US New Home Sales data, German Retail Sales, and US ...
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