EUR/USD extended declines from a recent four-year high above 1.1473, as markets prepare for Wednesday’s ECB policy meeting.
The European Central Bank is expected to cut rates in response to threats posed by US tariffs, falling inflation, and slower growth.
Despite President Trump's issuing a 90% pause on EU tariffs, markets are still wary of what could happen once this grace period expires.
Analysts are forecasting a 25-basis-point cut from the bank, taking rates to 2.25%, and a further move in June. Should this occur, rates in the Eurozone will fall to their lowest point since 2023.
EUR/USD dropped to an intraday low of 1.1264 before the meeting, after the relative strength index (RSI) failed to break out of a resistance level of 75.00.
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