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Forex

Dollar Slides as Euro and Sterling Gain Ground

Guavy AI Editorial Team
Instruments
EUR USD GBP
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The US Dollar Index (DXY) has been under pressure in recent days, hovering around 100.50 due to the Federal Reserve's rate-cutting cycle aimed at sustaining economic growth.

This weakness in the greenback suggests that buying opportunities may arise in key majors like EUR/USD and GBP/USD for derivative traders.

The EUR/USD pair is experiencing strong bullish momentum, with the exchange rate pushing towards 1.1250, supported by stabilizing economic data in the Eurozone.

Gold (XAU/USD) remains a focus, trading near historic highs of $2,650 per ounce due to ongoing geopolitical tensions and declining real yields.

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