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Euro Nears Multi-Year Highs as Fed Rate Cut Bets Rise

Ricardo Evangelista
July 03, 2025

The euro edged higher against the US dollar in early Thursday trading, once again approaching the multi-year highs reached earlier this week. This dynamic is largely driven by a dollar-centric narrative, as investors increase their bets on a near-term interest rate cut by the Federal Reserve. Such expectations were reinforced on Wednesday, following the release of US private sector employment data, which—for the first time in over two years—showed a decline in payrolls, offering a bearish signal for the US economy. Against this backdrop, currency traders will be closely watching the release of June’s Non-Farm Payrolls data later on Thursday. The consensus among analysts is that the figures will confirm a cooling in the US labour market. If that outlook is validated, it could place further downward pressure on the greenback and push the euro towards the 1.20 mark — a level the single currency has not reached in four years.


Ricardo Evangelista, ActivTrades

Source: ActivTrader


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