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Forex

EUR/USD Slides as US Dollar Soars to Eight-Week High

Guavy AI Editorial Team
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EUR USD
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The EUR/USD pair is trading marginally lower at around 1.1375 against the US Dollar in early European trade on Friday, but remains within Thursday's trading range.

The US Dollar is outperforming across the board, with the US Dollar Index (DXY) nearing its eight-week high of 101.40 posted on Thursday.

Fed officials have guided a hawkish monetary policy path and signaled economic resilience, contributing to the Dollar's strength.

Brown Brothers Harriman strategists observe that the USD is 'powering forward against most major currencies,' with further tightening possible as inflation remains the 'big challenge' for the US economy.

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