The European Union currency advanced compared to the dollar on Wednesday, hitting the highest value since July 2023.
The move comes after both the European Central Bank (ECB) and the United States Federal Reserve decided to lower interest rates. While the ECB opted for a 25 basis points cut, the Fed made an unexpected move, deciding to start monetary policy easing with a 50 basis points cut.
The euro gained 0.14% against the US currency, changing hands at $1.1952 at 2:45 pm CET.
