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Forex

Dollar Weakness Drives Euro to 12-Day Highs

Guavy AI Editorial Team
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EUR USD
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The Euro (EUR) has edged up against the US Dollar (USD), reaching its highest level in 12 days at just above 1.1640, despite high oil prices and risk-off markets.

This move is attributed to broad-based USD weakness, with analysts at Rabobank highlighting that the 'Dollar debasement debate' has undermined confidence in the greenback.

The market is bracing for a quarter-point rate hike by the European Central Bank (ECB) on Thursday, which could further strengthen the Euro's position against the USD.

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