Euro Extends Losses Ahead of Fed Rate Decision

The euro has been facing significant losses in recent trading sessions, declining by nearly 0.81% over the last four days.

This bearish trend is expected to continue ahead of the Federal Reserve's monetary policy decision tomorrow, which markets are pricing in as a 92% probability of a 25-basis-point rate hike.

The stronger U.S. dollar and expectations of higher interest rates have led investors to favor USD-denominated investments over European bonds, putting further pressure on the euro.