💨 Abstract

The euro dropped against the dollar on Monday due to weak business activity reports in the euro zone, which increased expectations for interest rate cuts by the European Central Bank. In contrast, U.S. business activity remained steady, with rising inflation. The dollar index rose, and the euro fell, as the Federal Reserve is expected to lead in interest rate cuts. The dollar fell for a third straight week, and multiple Fed officials are scheduled to speak this week.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖