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EURUSD: Daily & Intraday Analysis update

The index is still down around 3.3% in November on growing expectations the Fed will cut interest rates in the first half of 2024.

“The key drivers in November for the dollar weakness have been the benign inflation data and the loosening signs of the labour market,” said Mohamad Al-Saraf, associate, FX and rates strategy at Danske Bank. The notion of a soft landing has increased and usually that’s a bad environment for the dollar.”

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