The euro to USD exchange rate increased 0.06% at 1.0946. The dollar fell to its lowest level in more than two months, falling deeper than last week as investors largely believed that the Federal Reserve The state has completed its rate hike cycle and is looking ahead to when it might begin cutting interest rates. According to CME's FedWatch, the market is currently trying to determine when the Fed might begin cutting interest rates and is currently pricing in a more than 50% chance of a cut of at least 25 basis points in May. Joseph Trevisani, senior analyst at FXStreet.com said that credit, equity and currency markets are convinced that the Fed has completed raising interest rates, but the Fed is not yet ready to say so. Therefore, the greenback is gradually weakening, simply because the Fed is trying its best to decide to raise interest rates.
