Euro Hovers At $1.30 On Talk Of ECB Rate Cut

EURUSD traded sideways, contained within $1.2981 and $1.3018. Most currencies lacked direction and mainly made corrective moves.

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Sterling bounced higher against the dollar in the US session after being weakened earlier after disappointing data on Markit/CIPS Construction Purchasing Managers’ Index (PMI). Output in the construction sector fell at the fastest pace in more than three years in February. GBPUSD dropped to a low of $1.4998 but soon recovered to climb as high as $1.5086.

EUR ECB Rate Cut