EUR/USD continues to appreciate following the Federal Reserve interest rate decision as the European Central Bank (ECB) plans to reduce the Pandemic Emergency Purchase Program (PEPP) in the second half of 2024 by ‘EUR7.5 billon per month on average.’ US Dollar Forecast: EUR/USD Rally Persists Following Fed and ECB EUR/USD seems to have reversed ahead of the 50-Day SMA (1.0733) as it rallies to a fresh monthly high (1.1009), with the exchange rate approaching the November high (1.1017) as Fed officials forecast the ‘the federal funds rate will be 4.6 percent at the end of 2024.’ {chart} It seems as though the Federal ... (full story)