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EUR/USD Falls to Monthly Low of 1.1362 on July 28 Ahead of Fed Decision

2026-07-28 06:33:48

Early in the European session on July 28, EUR/USD fell to a monthly low of approximately 1.1362 as the market remained cautious ahead of the Federal Reserve's monetary policy decision. The U.S. dollar extended its gains amid expectations that the Fed will maintain rates in the 3.5%-3.75% range. According to CME FedWatch data, markets are pricing in an 80.8% probability of a Fed rate hike in September.

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