EUR/USD slumps from fresh highs of 1.1200 in Wednesday’s New York session as the Euro (EUR) weakens. The Euro underperforms its major peers as investors seem confident that the European Central Bank (EC will cut interest rates again in September.

The ECB started reducing interest rates in June as policymakers appear confident that price pressures in the Eurozone will return to the bank’s target of 2% in 2025.

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