Reported about 2 months ago
The euro has achieved significant gains in August, reaching a one-year high against the dollar, but the rally may encounter challenges following Federal Reserve Chair Jerome Powell's cautious comments. Market participants have actively purchased euros amid expectations of an impending rate cut cycle by the Fed. However, any pushback from Powell could reverse this trend, reigniting interest in the dollar due to ongoing economic weaknesses in the eurozone.
Source: YAHOO