EUR/USD Decline May Slow as Euro Hits One-Year Low of 1.1324

Société Générale analyst notes EUR/USD drop to 1.1324, citing Fed hike expectations and ECB policy shifts. Break below 1.14-1.2 range may cap further downside.

Woofun AI reports that Société Générale analyst Kit Juckes indicated the euro’s depreciation against the dollar could decelerate. Driven by rising Federal Reserve rate hike expectations and diminished bets on European Central Bank tightening, the euro fell to a one-year low of 1.1324. Juckes observed that the currency has breached the 1.14 to 1.2 band maintained for most of the year, potentially restricting additional downward movement.