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Euro Falls Against Dollar

iHub News
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December 06 2023 01:34AM

The euro weakened and looked vulnerable to further falls against the dollar due to increasing expectations of interest-rate cuts by the ECB next year and the U.S.’s growing yield advantage over the eurozone, Helaba Research said.

The euro has fallen below its 21-day and 200-day moving averages and is coming very close to support at the 100-day moving average, which if broken could see the euro drop, it said.

“If prices fall below this level, a significant correction would have to be considered.”