EUR/USD Extends Losses on Dovish Remarks from ECB Members, Trades Near 1.0780

Friday, 29 March 2024, 02:11
The EUR/USD pair is experiencing a downward trend as it extends losses near 1.0780 amidst dovish remarks from ECB members. This decline is mainly attributed to the strengthening US Dollar influenced by the hawkish market sentiment towards Federal Reserve policies. Speculations of prolonged higher interest rates further exacerbate the pressure on the Euro against the Dollar.
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EUR/USD Extends Losses on Dovish Remarks from ECB Members, Trades Near 1.0780

EUR/USD Extends Losses Near 1.0780

The EUR/USD pair continues its downward trend, impacted by a stronger US Dollar (USD) and hawkish market sentiment.

Factors Influencing the Trend

  • Fed's policy expectations
  • EUR/USD downward movement
  • Market pressures on Euro

The prolonged higher interest rate forecasts are adding bearish pressure to the EUR/USD pair.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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