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EUR/USD extends its gains for the fourth consecutive session, trading around 1.1710 during the Asian hours on Friday. The pair appreciates as the Euro (EUR) receives support after France’s government survived a no-confidence vote, as Prime Minister Sebastien Lecornu’s pledge to suspend a key pension reform won backing from some left-wing lawmakers. Additionally, the Euro also draws support from the dovish outlook, contrasting with European Central Bank (ECB) projections, which suggest interest rates are likely to remain unchanged. ECB policymaker and Central Bank of Malta Governor Edward Scicluna said late Thursday that the central bank must not rush further interest-rate cuts. Scicluna added that it’s not clear whether higher trade tariffs will be disinflationary or inflationary, and we shouldn’t jump to conclusions as this is crucial. ECB Governing Council member Martin Kocher said on Thursday, “I believe that we have reached the end of the interest rate reduction cycle or are at least very close to it.” Kocher further noted that it is “important to keep powder dry for potential crises.” The EUR/USD pair rises as the US Dollar (USD) declines due to the ongoing US government shutdown, which will continue into next week after the Senate once again failed to pass a Republican bill to extend funding and end the stalemate, marking the tenth unsuccessful attempt on Thursday, the 16th day of the impasse. Euro FAQs The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed…

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Filed under: News - @ October 17, 2025 4:20 am