The Euro (EUR) struggled to hold onto gains following the European Central Bank's (ECB) latest meeting, where rates remained unchanged and growth forecasts were upgraded. This hawkish stance initially supported the EUR, but it was unable to maintain momentum against the US Dollar (USD), with the EUR/USD exchange rate retreating below key support levels.
Market analysts at Scotiabank noted that although the ECB's decision suggests an end to the easing cycle, the Euro faced selling pressure. The shifts in investor sentiment and profit-taking contributed to the EUR's decline, reflecting a broader market response that favored the USD. As traders reassess the implications of ECB signals, the EUR's outlook remains uncertain in the face of evolving economic conditions.
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Data Source: FX Killer Analysis Team Updated: 2025-12-19 15:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.