Federal Reserve official Bessent said, “At the September meeting, we should make a 0.5% interest rate cut.”
President Trump also said, “U.S. interest rates should be 1%.”
These comments increased pressure from the government for rate cuts, leading to more selling of the U.S. dollar and pushing the euro higher.
In addition, the upcoming U.S.–Russia leaders’ meeting is raising hopes for a ceasefire in the Ukraine war, which is also supporting the euro.
The euro may try again to reach the high of the upper 1.17 level seen just before falling after the tariff agreement on July 28.
EUR/USD forecast range: 1.1680 (38.2%) – 1.1780
Note: This information does not guarantee profits. Please make your own decisions when trading.