Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com -- The euro has seen a rise against the dollar, buoyed by the likelihood that eurozone interest rates will only face one more reduction. This potential for just a single rate cut is expected to lend support to the currency, as stated by ING’s Chris Turner in a note.
The European Central Bank (ECB) hinted at the end of rate cuts during a meeting held last week. The ECB President, Christine Lagarde, portrayed a growing eurozone economy despite the presence of global uncertainty, according to Turner.
Money markets are currently factoring in just one more 25 basis-point rate cut, which is expected to occur in December, as indicated by data from the London Stock Exchange Group (LON:LSEG).
The euro has managed to recover from the falls it experienced on Friday when the dollar strengthened following the release of U.S. jobs data that surpassed expectations. The euro has gained 0.3% to reach $1.1432, coming close to the six-week high of $1.1494 it achieved last week, as per LSEG data.
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