EUR/USD rebound eyes parity as DXY retreats ahead of US data – by anilpanchal7 EURUSD RiskAppetite PMI Recession Fed
ing so, the major currency pair takes a U-turn from the lowest levels since late 2002 while posting mild gains around 0.9950 by the press time.
On the same line could be the CME’s FedWatch Tool which suggests a nearly 61% chance of the Fed’s 0.75% rate hike in September, versus more than 70% expected the last week. The reason could be linked to the downbeat USThe quote’s previous weakness could be linked to the impending recession woes in the bloc, as well as the firmer odds of the US Federal Reserve’s faster rate hikes despite the recently mixed data.
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