EUR/USD Tests 1.1498 as ECB Rate Cut to 2% Sparks Currency Volatility
Key Points
- ECB cuts rates to 2%, hinting at a pause in future cuts, cau...
The European Central Bank just delivered what some traders are calling the "gentle nudge heard 'round the trading floor" - cutting rates to 2% on June 5th and watching the EUR/USD do what it does best: confuse everyone involved.
When Central Bankers Play Hard to Get
ECB President Christine Lagarde managed to pull off the monetary policy equivalent of "it's complicated" by hinting they might be done with rate cuts while simultaneously, well, cutting rates. The market's response? EUR/USD shot up to 1.1498 faster than a day trader closing positions on a Friday afternoon, only to settle back...
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