Euro Teeters Near Month-Long Lows Against Dollar As ECB Decision Looms – Urgent Market Alert
Euro Hovers Near One-Month Low Awaiting ECB Rate Decision
The euro remained near a one-month low on Thursday as investors eagerly anticipated the European Central Bank’s (ECB) interest rate decision later today. The monetary policy statement from ECB President Christine Lagarde is expected to introduce volatility in the euro-dollar pair market.
The ECB’s rate decision will be announced alongside updated economic projections from their September meeting. After holding interest rates steady in July, the central bank is largely expected to cut key rates in its upcoming policy meeting. Key factors driving the anticipated rate cut include sluggish economic growth in the eurozone and cooling inflation, which edged closer to the central bank’s 2% target in August.
As of now, the EUR/USD pair is trading at $1.10, unchanged for the day and at its lowest level in nearly a month.
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Disclaimer: No Business Standard journalist was involved in the creation of this content. First Published: Sep 12, 2024 | 5:18 PM IST
Original Story https://www.business-standard.com/markets/capital-market-news/euro-lingers-near-a-month-low-against-dollar-ahead-of-ecb-decision-124091200871_1.html
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