The Euro Sees Further Decline: Summary for September 28, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_3-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" 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 its descent, reaching lows unseen in several months.</p>
<p>By Thursday, the major <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> had slipped further. The present exchange rate for EUR/USD stands at 1.0495.</p>
<p>This positions the US dollar at its highest point in ten months. The predominant reason for this <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a> is the widespread market confidence in the Federal Reserve's commitment to maintaining elevated interest rates for an extended period.</p>
<p>In this scenario, the yield on 10-year Treasury bonds remains at its highest since 2007.</p>
<p>The Federal Reserve signaled last week that it might raise borrowing costs once again by the year's end. Additionally, it made it clear to the capital markets that it intends to sustain interest rates at this elevated level for a prolonged duration.</p>
<p>The US is notably better positioned than other countries to withstand this prolonged period. This has prompted investors to revise their overly optimistic expectations for other currencies and favor the dollar.</p>
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