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Euro seen supported above $1.05; All eyes on ECB Lagarde's speech

18-Nov-24 14:41 Hrs IST

The euro is seen supported above $1.05 as dollar took a breather around a one-year high as investors await fresh insights into Federal course of action. The US dollar index that measures the greenback against a basket of currencies paused rally near 106.60 as Federal Reserve (Fed) Chair Jerome Powell instilled uncertainty in the markets by expressing reservations about a December interest rate cut. Besides, Fed officials, including Kugler, reiterated the need for caution in rate cuts. Meanwhile, investors turn focus to European Central Bank (ECB) President Christine Lagarde's speech, looking for cues about the likely interest rate cut size in the December meeting. Currently, EURUSD is quoting at $1.0560, up 0.09%.

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