The $EURUSD declined sharply as the ongoing euro sell-off gathered momentum. Forex Signal
Enter your emailThe pair will likely keep falling as sellers target the third support at 1.0350.Timeline: 1-2 days.declined sharply as the ongoing euro sell-off gathered momentum.
This performance is mostly because of the difficult place that the European Central Bank finds itself in. Unlike most central banks, it did not hike interest rates this month. Instead, the committee decided to wind down its asset purchases program. But a few days later, it held an emergency meeting because of the widening spread between safe and risky government bonds.
The EUR/USD also after Germany published the latest consumer inflation data. Numbers by Destatis revealed that inflation dropped unexpectedly in June because of government incentives. The headline CPI retreated from 8.7% in May to 8.2% in June. On the other hand, inflation in Spain jumped to an all-time high of 10%.
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