Its highest level since September 2021 compared to the dollar, the euro climbed, backed by the strongest investment climate in both the eurozone and Germany, along with the general weakness of the US currency, as the Fed is preparing to cut interest rates this week.

The dollar exchange rate ranges from 1,1845 on Tuesday.

Markets generally expect that the Fed will reduce interest rates by at least 25 basis points, as policy makers are weighing labor market data against continuing inflation pressure from tariffs, Trade Economics said.

On the contrary, European officials continue to have their attention on inflation. ECB’s executive member Isabel Schnabel urged policymakers to “maintain a steady stance”, warning that the dangers ranging from duties and inflation to services to food prices and fiscal policy remain significant.

The commander of the Central Bank of Slovakia, Peter Kazimir, shared this view, warning that the violation of these dangers “would be wrong”. Last week, the ECB maintained the cost of borrowing unchanged for a second consecutive meeting, possibly marking the end of an interest rates cycle.

New record for gold

Gold set another record on Tuesday by breaking the $ 3,700 barrier, as investors expect a Fed interest rates reduced, which is expected to be announced on Wednesday.

It is noted that one before, gold negotiated just over $ 3,300 per ounce.

At 17:50 Greek time, gold is negotiated at $ 3,690.