The EUR/USD pair has surged, surpassing its highest point in the last three months.
This Tuesday, the main currency pair is achieving fresh local peaks, with the current EUR/USD exchange rate at 1.0960.
The driving force behind this surge remains unchanged—investors are resolute in their belief that the US Federal Reserve has reached the zenith of its interest rates. Earlier, the market received supporting evidence from weak macroeconomic statistics.
With no new data released, investors have ample time to fully integrate this catalyst into the market quotes.
Today, the US is set to publish existing home sales data for October. The expectation is a slight decrease. Moreover, the Federal Reserve will release the minutes of its recent meeting. These minutes are of significance as the market typically scrutinizes them for clues about the regulator's future actions.