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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 25/Jun 09:10

Euro outlook uncertain

The EURUSD extended its recovery to 1.0740 in Tuesday’s European trading, with the major currency pair rising as growing optimism for the Fed to reduce interest rates twice this year has increased investors’ risk appetite. The US Dollar Index (DXY), which tracks the greenback’s value against six major currencies, has dropped to 105.40 as demand for safe-haven assets has eased. The DXY Index corrected even though the preliminary US S&P Global Purchasing Managers Index (PMI) unexpectedly beat the consensus and its prior numbers in June. This week, investors will focus on the US core Personal Consumption Expenditure price index (PCE)

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