The Euro (EUR) finds cushion after posting a fresh 18-month low near 1.1066 against the US Dollar (USD) during the day, trading almost flat at around 1.1090 in the European trade. The EUR/USD pair rebounds slightly on Thursday as the US Dollar gives back some of its early gains.
The Euro (EUR) experienced a temporary boost against the US Dollar (USD), reaching nearly 1.1066, after hitting an 18-month low during the day. However, the outlook for the EUR/USD pair remains uncertain as the US Dollar shows resilience due to rising US inflation and hawkish expectations from the Federal Reserve. The ECB has also raised interest rates twice this year, but analysts doubt that the monetary tightening cycle will continue in the long run, adding to the uncertainty surrounding the Euro.
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President Lee Jae Myung said Thursday that Korea's capital market remains undervalued, calling for measures to boost its global competitiveness and attract long-term investments.
Silver price (XAG/USD) depreciates after posting modest gains in the previous day, trading around $51.40 per troy ounce during the European hours on Thursday.
