After the Fed's rate cut, the US dollar rebounds and the euro retreats from a four-year high

ChainCatcher news, according to Golden Ten Data, the euro against the US dollar (EUR/USD) retreated from the four-year high reached on Wednesday. After the Federal Reserve decided to cut interest rates by 25 basis points, the US dollar initially weakened following the announcement, but then quickly reversed and strengthened. ING analyst Francesco Pesole pointed out that the rebound was amplified by the "sell the news" effect and position adjustments. Nevertheless, he believes that the Federal Reserve still hinted at multiple rate cuts, so the euro may regain its upward momentum, and ING continues to maintain its target for EUR/USD to rise to 1.2 in the fourth quarter.