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EUR/USD reaction to any ECB move might be telling
As you all surely know now, the European Central Bank is widely expected to lower their benchmark rate later today. The consensus is for a 0.25% cut in the current 2.5% rate. The comments from the Fed boss last night once again underscored the reluctance of the US Central Bank to lower rates until they see the true impact of tariffs. Well, one could be forgiven for thinking the same applies to the ECB- right? Well, yes on that basis there is a sound argument for the ECB to hold off today. We shall just have to see what Madame Lagarde and her colleagues deliver at 12.15pm GMT. What will be interesting to see, will be the reaction in the EUR/USD to any cut, if delivered and right now it looks like it could easily absorb such a move. Of course no cut whatsoever and it might not even wait for a dip. All to be revealed. The EUR/USD is right now at 1.1379
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