Impact of US PCE inflation on EUR/USD as USD gains strength

Thursday, 29 February 2024, 20:01
The EUR/USD pair fell back to the 1.0800 handle following mixed results in German Retail Sales and CPI data. The Greenback received a boost from the strong US PCE inflation numbers, leading to a stronger USD and impacting the currency pair.
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Impact of US PCE inflation on EUR/USD as USD gains strength

USD Gains Strength on US PCE Inflation

The EUR/USD pair retreated to the 1.0800 handle after weak German Retail Sales and CPI figures. The Greenback was bolstered by positive US PCE inflation data, causing a surge in USD value.

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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