EURO LINGERS NEAR A MONTH LOW AGAINST DOLLAR AHEAD OF ECB DECISION

Published on Sep 12, 2024 17:18

Euro continues to linger around a one-month low on Thursday as investors await ECB interest rate decision later today. The monetary policy statement by ECB President Christine Lagarde is likely to inject volatility in the euro and dollar pair. The European Central Bank (ECB) interest rate decision will be announced alongside the publication of the staff�s updated economic projections following the September monetary policy meeting. After standing pat on interest rates in July, the central bank is widely expected to reduce key rates at its upcoming policy meeting. Some of the main drivers behind an expected rate cut include sluggish economic growth across the euro zone and cooling inflation, which fell back toward the central bank�s 2% target in August. Currently, the EURUSD pair is quoting at $1.10, flat on the day and at its lowest level in almost a month.