The EUR/USD pair fell for a second consecutive week, ending Friday just above the March low of 1.0796.
The United States Federal Reserve still aims for three rate cuts this year, trusts the economy will improve further. US core Personal Consumption Expenditures Price Index is seen easing in February. EUR/USD gains downward traction in the long term and could fall towards 1.0520. The pair peaked at 1.0942 early on Thursday, in the aftermath of the Federal Reserve monetary policy announcement, but turned south afterwards, as the US Dollar benefited from optimism about the US economy’s performance.
Multiple ECB officials said the likelihood of a June rate cut in Europe remains alive and kicking, although the most conservative clarified that it would depend on macroeconomic data. President Christine Lagarde hit the wires on Friday and repeated that policymakers expect inflation to continue easing in the upcoming months, adding growth is projected to pick up. Her words were not actually a surprise and barely helped the battered Euro.
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