EUR/USD: The Dollar’S ​​Modest Rise Continues, 1.0700 Will Be The Next Challenge

The euro continues to fall and has now given back all the gains it made two days ago after the release of the US consumer inflation data.

Earlier, it had hit a low just above $10,710 and now there may be room for further declines.

As mentioned several times, everything revolves around interest rates and investors closely follow the statements of officials and also all macroeconomic data that may give new conclusions about the intentions of the two major central banks.

The interest rate cut by the European Central Bank last week widened the interest rate differential in favor of the US dollar and is the main catalyst for the current weak momentum of the US dollar.

The news of reducing inflationary pressures announced on Wednesday increased bets that the Federal Reserve may cut interest rates faster, which temporarily affected the US dollar, but as the situation develops, this situation is changing towards the end of the year, with the result that the US dollar remains in the outlook.

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