EUR/USD rises to a one year high as the US employment picture dims

The bleed lower in the US dollar has extended and the euro is taking full advantage. It’s just edged above the December 2023 high of 1.1139 and is now trading at the highest since July 2023.

The latest move is almost entirely driven by the dollar side of the equation as it sinks across the board as the market senses a long series of rate cuts lining up, particularly after the BLS revised away 818K jobs.

This article was written by Adam Button at www.forexlive.com.