EUR/USD on the edge after the drop yesterday ...Middle East

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EUR/USD on the edge after the drop yesterday
To be fair, Lagarde's speech went about as one would thought it would have. She acknowledged better inflation developments while reaffirming a more data-dependent approach. While she did say that it is fairly premature to discuss rate cuts now, she did mention that one should not be "fixated on the calendar". Adding to that, she defended the possibility of rate cuts "by the summer".The euro didn't like it though as traders stepped up bets for a rate cut for April. The odds of a 25 bps reduction in April is now at ~91% after Lagarde's press conference. That is a modest rise in expectations, having been ~72% going into the ECB decision yesterday. The total rate cuts priced in for this year now

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