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EURUSD: Intraday Analysis & Setup update

The euro depreciated towards the $1.085 threshold, marking its lowest point in a fortnight, as investors digested dovish comments from few ECB officials while awaiting the US Federal Reserve’s policy meeting scheduled for Wednesday.

Vice President Luis de Guindos remarked on Tuesday that the central bank would be prepared to deliberate an interest rate cut in June, emphasizing the necessity for policymakers to gather further information before initiating any policy adjustments.

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