The EUR/USD pair recorded its biggest rise in almost a month on Tuesday (+0-3%). Société Générale economists analyze the pair's prospects.
FOMC minutes could stop dollar profit-taking
Portfolio rebalancing flows at the end of the month could lead to profit taking in the Dollar, but that is something that will have to wait until next week.
Neither European nor American data suggest an imminent or justified change of direction.
Federal Open Market Committee (FOMC) Minutes Pose an Obvious Threat Today and could nip the dollar's profit-taking and the bullish rally in US 2- and 10-year bond yields in the bud.
Technically, EUR/USD is attempting to cross above the 200-day SMA at 1.0827. If it clears this hurdle, the bounce could extend towards the high reached so far in February near 1.0900/1.0915.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
