EUR/USD Declines Amid Growing Expectations for U.S. Interest Rate Hikes

The EUR/USD pair continues to face challenges as it declines by nearly 0.6% over the last three trading sessions.

This decline is largely due to selling pressure from investors who are favoring the U.S. dollar due to expectations of a more restrictive Federal Reserve.

According to market probabilities, there remains roughly a 55% chance that interest rates could rise again to the 4.25% area at the October 28 meeting, suggesting that expectations for additional tightening remain intact.