The EURUSD currency pair is holding onto Wednesday’s recovery slightly below the round-level resistance of 1.1100 in Thursday’s European session....
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Maroc - FINANCIALMIRROR.COM - A La Une - 16/Aug 15:18
Dollar declines on firm Fed rate cut in September
The EURUSD pair rebound to near the psychological resistance of 1.1000 in Friday’s New York session. The major currency pair bounced back as the US Dollar declined with investors gaining confidence that the Federal Reserve will start reducing interest rates from the September meeting. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, declined to near 102.70. Firm speculation for Fed interest-rate cuts in September has improved appeal for risk-sensitive currencies, while 10-year US Treasury yields tumbled to near 3.89%. Market participants remain confident over Fed rate cuts in September. Traders pare bets supporting a 50-basis
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