Forex
EUR/USD Retreats from Six-Month High as Fed Hawkishness Fades
The EUR/USD price has retreated from its six-month high of 1.1710 reached on August 19, after a strong rally that saw the pair gain 2.60% over the past month.
The current price is 1.1664, down 0.09% from the previous session, and is supported by the 200-day Simple Moving Average (SMA) at 1.1632 and the 61.8% retracement level at 1.1649.
The Federal Reserve's probability of a September rate hike has collapsed to 38.4%, down from 67% earlier in August, while money markets still price in a fully priced December hike.