EUR/USD Surges to Two-Month High as Fed Hike Odds Fall

The EUR/USD pair extended its gain for a third consecutive session on Monday, reaching a two-month high of 1.1606 and surpassing the August peak at 1.1581.

This move built on last week's bounce from the vicinity of the 1.1500 psychological level, attracting follow-through buyers at each attempt higher.

The dollar supplied the entire impulse, with the US Dollar Index languishing near the lower end of its monthly range and printing 99.49 before sliding to 99.363, down 0.20%.