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EURUSD: After ECB’s decision & Our Forecast

The euro weakened towards the $1.08 mark, reaching the lowest level since mid-December, after the European Central Bank kept interest rates unchanged at a record-high of 4%, as expected.

ECB President Christine Lagarde emphasized that it is currently “premature to discuss rate cuts” for the Eurozone economy and highlighted that risks to economic growth were “tilted to the downside.” Adding to these concerns, recent data raised alarms about the well-being of Europe’s largest economy.

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