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 - Aujourd'hui 07:05
Euro-dollar trades flat after bumper Fed rate cut
The EURUSD pair is trading flat in the early European session on Thursday after the first cut in U.S. interest rates in four years. The major pair initially edged higher to monthly highs of 1.1189 after a bumper 50 basis points rate cut by the Federal Reserve at its September meeting and later eased back to near 1.1120. The Federal Open Market Committee (FOMC) started its easing cycle, lowering the Fed funds target range by 50 bps to 4.75-5.00% on Wednesday. However, the Fed’s forward guidance didn’t seem to be as dovish as expected, which helped limit the US Dollar’s
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