EUR/USD surrenders crucial 1.0580 support as Fed’s rate hike fears mount – by Sagar_Dua24 EURUSD Fed ECB Inflation PMI
S&P500 failed to hold gains added on Monday as higher rates by the Fed will push the US economy into a recession.The EUR/USD pair
has slipped below the critical support of 1.0580 in the early Asian session as fears of more rates announcement by the Federal Reserve are mounting among the market participants. The major currency pair is expected to re-test a seven-week low around 1.
has confirmed the continuation of the 50 basis points rate hike culture for the March monetary policy as the current monetary policy is not restrictive enough to squeeze inflationary pressures as expected.
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