EUR - USD: Euro Strongest in Five Months Against Dollar as Fed Eyes Cuts - Bloomberg
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Euro Rises to Highest in Five Months as Fed Bets Fuel Risk Rally

  • Currency set for first annual gain versus greenback since 2020
  • To be sure, euro appears overbought, Monex USA trader says
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The euro rose to its highest against the greenback since the end of July as signals from the Federal Reserve that it will pivot to rate cuts have continued to support a risk rally.

The common currency climbed as much as 0.3% to 1.1070 on Wednesday, one of the biggest gainers in the Group-of-10. The euro has advanced 3.4% this year, with much of the rally coming in the past few weeks since the Fed’s latest commentary.

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