EUR/USD is the exchange rate between the euro and the US dollar, the most heavily traded currency pair in the world.
The Euro gained ground against the US Dollar as expectations of further Federal Reserve rate hikes faded, putting pressure on the greenback. The pair climbed, though it pulled back from the 50% midpoint target at 1.1585 after hitting that level. The movement is primarily driven by dollar weakness rather than euro-specific strength.
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