The euro is adrift against the US dollar at the start of the new week with focus resting on the outcome of this Wednesday’s FOMC statement.
With much of the currency focus surrounding the EU referendum falling on the British pound, it is easy to forget other crosses will feel some heat.
One of the first institutions to move on their exchange rate forecasts following the release of poor labour market data released by the US Bureau of Labor Statistics is Intesa Sanpaolo.
The dollar enjoys positive momentum heading into the new month, however the EUR/USD exchange rate could stage a recovery should an important data release at the end of the week disappoint.
The debate on the EUR/USD’s outlook rages on with those who have long maintained negative bias towards the pair jumping on the weakness seen over recent days.
We are on course for the third week of losses in a row for the EUR to USD conversion - where will the selling pressure end?
The euro has fallen against the US dollar for two weeks now with a broad-based US dollar recovery being underpinned by stronger-than-forecast economic data.
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