EUR/USD rebounds at the expense of the US Dollar (USD).
EUR/USD recovers to near 1.0270 as the US Dollar performs subduedly as investors focus on the US PPI data for December. President-elect Donald Trump’s policies are expected to boost US inflation and growth. ECB ’s Rehn sees monetary policy restrictions concluding by mid-summer. EUR/USDrebounds at the expense of the US Dollar .
According to the CME FedWatch tool, the 30-Day Fed Funds futures prices signal higher probabilities for only one interest rate cut from the Federal Reserve this year, compared to two rate cuts shown by the dot plot at the latest Fed Summary of Economic Projections . Traders have trimmed Fed dovish bets on the back of robust labor demand, as shown by the latest United States Nonfarm Payrolls data released on Friday, which signifies a strong economic outlook.
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