EUR USD Set to Surge to 1.20 if Powell Exits, Claims ING
Analysts at ING highlight that fears around U.S. economic growth and diminishing confidence in the dollar as a safe-haven currency have caused substantial fluctuations. Recently, the Euro to Dollar (EUR USD) exchange rate surged to three-year highs above 1.1550 before facing a correction. The potential exit of Fed Chair Powell might trigger the EUR USD to rise significantly, making it essential for traders to strategize their positions in anticipation of this scenario.