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EUR/USD rises as traders reassess Fed hike odds

The euro was quoted near 1.1356, up 0.13% for the European session, as focus shifted to remarks from New York Fed President John Williams.

Reported · Written up by our desk · Major Pairs

The euro rose against the US dollar during the European trading session on Wednesday, with EUR/USD up 0.13% to around 1.1356, according to FXStreet.

FXStreet attributed the move to renewed reassessment of hawkish Federal Reserve expectations after New York Fed Bank President John Williams said there is no urgency following a September interest rate hike.

While Williams refuted urgency, he did not rule out further tightening, saying that if the economy meets expectations, one more hike is likely this year.

FXStreet also noted that, according to the CME FedWatch tool, there are implied odds of a Fed hike in October, following Williams’s comments.

Latest closeEUR/USD 1.137 ▼0.1%

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