Traders are betting that the Federal Reserve will cut interest rates faster than the European Central Bank
2024-08-21 16:23:21
The euro rose to its highest level in a year, with traders more bullish on the euro than at any time since late 2020 ahead of the annual Jackson Hole meeting. The euro briefly rose to 1.1143 on Wednesday, its highest level since July 2023. Markets expect Federal Reserve Chairperson Jerome Powell to back up their bet on rate cuts on Friday, with the Fed expected to cut rates faster than the European Central Bank in the coming months.
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