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Indonesia News Portal for Traders | Financial & Business Updates

17 October 2024 16:15  |

EUR/USD

The euro weakened below $1.09, an over two-month low, as monetary policies diverge between the European Central Bank (ECB) and the US Federal Reserve

The ECB is expected to cut its deposit rate by 25 bps on Thursday, following reductions in September and June.

Traders anticipate more cuts at every meeting through March, reflecting the ECB's response to slowing inflation, which dropped to 1.8% in the Eurozone, the lowest since April 2021.

In contrast, stronger-than-expected US jobs and inflation data have reduced bets on further significant rate cuts by the Federal Reserve, maintaining pressure on the Euro. (Cay)

Source: Trading economi

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