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EURUSD: Daily Analysis & Intraday Forecast

The U.S. dollar, as measured by the DXY index, fell nearly 3% in November, weighed down by the downward correction in U.S. yields triggered by bets that the Federal Reserve has finished raising borrowing costs and would move to sharply reduce them in 2024 as part of a strategy to prevent a hard landing.

While some Fed officials have been dismissive of the idea of aggressive rate cuts in the near future, others have not entirely ruled out the possibility. Despite some mixed messages, policymakers have been unequivocal about one aspect: they’ll rely on the totality of data to guide their decisions.

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