Maroc - FINANCIALMIRROR.COM - A La Une - 25/Mar 14:10

Dollar retreats, euro trades cautiously

EURUSD found cushion around 1.0780 and rose to near 1.0820 in European trading on Tuesday. The major currency pair remains well bid even though the Euro trades cautiously on expectations that the European Central Bank could reduce interest rates again in April. The ECB has cut its key borrowing rates six times since June and expects to win the battle against inflation this year. Last week, ECB President Christine Lagarde said, while testifying before the European Parliament, that the inflationary impact of the Trump-led trade war is temporary as the effect would “ease in the medium term” due to “lower economic activity