EUR/USD recovers its intraday losses, trading around 1.0590 during the Asian trading session on Tuesday. This pair faced challenges despite comments f
However, Lagarde also noted that inflation is expected to stay"too high for too long." However, the ECB is facing a difficult situation as it seeks to balance the need to address rising inflation while not adversely affecting the Eurozone's uneven domestic economy. This delicate balancing act is likely contributing to the downward pressure on the euro against the US dollar .
Recent warnings from US President Joe Biden and a senior adviser about the potential consequences of a federal government shutdown have also added to market concerns. They highlighted the possible widespread difficulties that could arise from a shutdown, including the loss of food benefits for nearly 7 million low-income women and children.
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