EURUSD Approaches Critical Juncture; Post FOMC

In the latest FOMC conference, Powell has reiterated Fed's decision to keep interest rate unchanged and is confident to reach their inflation target of 2%, and is happy with the 3 rate cut this year. However, the market sentiment has changed from a 'no rate cut' to a 'no rate hike'. Both mean unchanged but the first is hawkish and the later is dovish. When asked about a rate hike, Powell insisted that inflation has to meet 2% before a rate hike can happen.

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