The EUR/USD currency pair experienced a notable surge of over 0.40% on Wednesday, climbing to an exchange rate of 1.1668. This upward movement follows the release of disappointing US labor data, which has intensified expectations that the Federal Reserve may cut interest rates at its upcoming meeting on December 9-10. The pair found support after bouncing off daily lows of 1.1617.
The weak labor figures have prompted traders to reassess their outlook for US monetary policy, with odds of a rate cut now sitting at 90%. As market participants digest this economic information, the strengthened euro against the dollar reflects broader concerns regarding the US economy's trajectory. The implications of this shift in sentiment could lead to increased volatility in the forex market as traders position themselves ahead of the Fed's decision.
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Data Source: FX Killer Analysis Team Updated: 2025-12-03 21:38
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.