The euro has declined significantly against the United States dollar in recent days. According to analysts, fears of recession and the ripple effect of the conflict in Ukraine could be the proximate causes.
As inflation reached record levels across much of the developed world in April, it’s looking more likely that many central banks could follow the Federal Reserve’s hawkish turn. Accordingly, the values of several key Forex pairs could be set for a shift.
Over the past several trading sessions, the U.S. dollar has been losing against some other major global currencies. The proximate causes may include weakening optimism regarding inflation as well as improving economic prospects in Europe and China.
In face of a possible interest rate hike, the US dollar rallied leading to a downturn for some market sectors.
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