Euro Falls to a Two-Month Low Ahead of ECB Meeting - Forex News by FX Leaders
EUR/USD

Euro Falls to a Two-Month Low Ahead of ECB Meeting

Posted Wednesday, July 24, 2019 by
Arslan Butt • 1 min read

EUR/USD continues to trade bearish early on Wednesday after hitting a two-month low and losing over 0.5% during the previous day. At the time of writing, EUR/USD is trading at around 1.114 ahead of ECB’s meeting on Thursday.

Markets are waiting to see if the ECB will cut interest rates or sound dovish in its forward guidance, which could lead to easing of monetary policy by as early as September. Boris Kohnson’s victory in UK has also dented the sentiment for the Euro over how Brexit will pan out under his leadership now.

The bearishness in EUR/USD was also driven by a strengthening in the US dollar after the US government agreed to extend its borrowing limits for the next two years.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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