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EUR/USD surges over 1.1100 as markets continue to bet on Fed rate cuts
The EUR/USD is gaining ground in thin post-holiday markets as investors gear up for the new year and head towards 2024 with sentiment leaning notably risk-on, pushing the US Dollar (USD) down once more in the last partial trading week of the year. Broad-market risk appetite is singularly focused on Federal Reserve (Fed) rate cut expectations, with investors currently piling into bets that the Fed will begin the next rate-cutting cycle as soon as next March. Despite deepening cracks in the European Union and lopsided growth figures pointing towards recession across the Eurozone, markets are bidding the Euro (EUR) ... (full story)