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EUR Extends Losses Against USD

M. Ali 18 June, 2021 1:16 am Forex Market, Market Update

The Euro (EUR) extended its losses against the U.S. Dollar (USD) on Thursday for the second consecutive day.

This comes as the USD rose across the board following the U.S. Federal Reserve’s change in tone, expecting rising inflation and two rate hikes in 2023, sooner than previously expected.

The EUR/USD pair declined by 0.75%, reaching the level of 1.1907.

Yesterday, the pair fell below 1.2 for the first time since early May.

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