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EUR/USD holds steady ahead of key Fed rate decision
EUR/USD is currently trading at 1.08351, holding steady after opening at 1.08547 and reaching a high of 1.08699. The pair has found support at 1.08345.
This week, the focus is on the upcoming Federal Reserve rate decision. Market participants are anticipating potential rate changes, which could significantly impact the USD. The Fed's decision comes amid recent mixed US economic data, showing cooling inflation but ongoing economic uncertainties.
In the Eurozone, economic signals remain mixed, with strong German retail sales offset by weaker industrial output. ECB officials have hinted at a cautious approach to future rate hikes, adding to the EUR's stability.
The pair is trading near its support level, and the Fed's upcoming announcement will likely provide direction for the next move.
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