Reported 11 months ago
The euro declined to a one-month low of $1.0764 as French President Emmanuel Macron called for a surprise election following a defeat in the EU vote. The dollar remained steady ahead of the Federal Reserve meeting. Eurosceptic nationalists gained ground in the European Parliament elections, leading to political uncertainty in France. Analysts predict the euro may face pressure due to the upcoming U.S. inflation data and FOMC meeting. The Fed's strong job data shifted expectations for rate cuts, with markets now pricing in fewer cuts compared to previous estimates. The Bank of Japan is expected to maintain its short-term interest rates, while the yen weakened and sterling remained flat.
Source: YAHOO