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FOREX-Dollar at 2-week high, euro softer as market bets on rate cuts

December 7, 2023
Source: devdiscourse.com devdiscourse.com
News Snapshot:
The U.S. dollar was at a two-week high on Wednesday, while the euro was weak across the board as markets ramped up bets that the European Central Bank (ECB) will cut interest rates as early as March. Although markets are still pricing at least 125 basis points of interest rate cuts from the U.S. Federal Reserve next year, the dollar was able to hold steady as rate cut bets for other central banks intensified. The dollar index, which measures the currency against six other majors, was last up 0.19% at 104.16. The euro was down 0.29% to $1.0764. Traders are...
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