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EUR/USD Plunges to Two-Month Low Amid Strong US Data and Hawkish Outlook

Guavy AI Editorial Team
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The EUR/USD pair has reached a two-month low of 1.1378 due to strong US economic data that has heightened inflation concerns and reinforced expectations of further Federal Reserve tightening.

Firm macro data from S&P Global revealed that the US private sector business activity grew at its fastest pace in more than five years in September, with services and manufacturing both improving while price pressures strengthened.

The Fed officials reiterated support for last week's rate rise and flagged inflation risks, causing markets to lift the implied chance of another hike in October to about 70% from 55% a day earlier.

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