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How Low Can the Euro Go?
The EURUSD is down 250 pips from the start of the year. But since early February it has taken a turn lower, which significantly accelerated after Russia invaded Ukraine. The next major support level appears to be 1.1000. Will it fall that far, or even farther? Is there a chance for a rebound? What’s driving price action? Yields are the name of the game On a broader scale, the main driving price of euro pairs revolved around interest rate expectations. And most of the other majors are seeing high inflation. That said, this has pushed their central banks to raise rates, which in turn raises yields on bonds. ... (full story)