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Euro To US Dollar August 2023 Forecast: China Concerns Dominant For Now
The Euro (EUR) was on the defensive over the last week with a weak performance on most crosses and against the US Dollar (USD). The US currency has maintained a firm tone as the 10-year yield increased to an 8-month high. Increased concerns surrounding the Chinese economy and fragile risk appetite have also undermined the Euro. The Euro to Dollar (EUR/USD) exchange rate dipped to 6-week lows just below 1.0850 before a tentative recovery to 1.0870. ING notes; “The pair is not just exposed to Chinese sentiment via the risk-environment channel, but more directly given the eurozone’s economic exposure to China. The ... (full story)