USD Demonstrates Strength: Overview for February 01, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_12-Copy-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair continues to face noticeable downward pressure.</p>

<p>On Thursday, the primary <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> experiences ongoing depreciation. The current exchange rate for EUR/USD is at 1.0807.</p>

<p>The pivotal event has transpired: the US Federal Reserve conducted its meeting, maintaining the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> at 5.5% per annum and offering the market additional insights into the future.</p>

<p>A reduction in borrowing costs in March appears unlikely due to the evident high <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a>, which presents significant risks to the existing monetary policy. Currently, the interest rate is at its peak. According to Federal Reserve Chair Jerome Powell, if the economy progresses as anticipated, a reduction in the interest rate might be considered appropriate at some point later this year.</p>

<p>The Federal Reserve continues to grapple with achieving a sustained reduction in inflationary pressure. Otherwise, the regulator will refrain from taking steps whose consequences cannot be predicted.</p>

<p>It seems that market expectations regarding the focal activity around the interest rate are accurate: any decisive moves are postponed until May 2024.</p>

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