EUR/USD rises after France welcomes Francois Bayrou as Prime Minister

EUR/USD rises after France welcomes Francois Bayrou as Prime Minister

EUR/USD rises to near 1.0500 as the US Dollar surrenders its intraday gains. French Macron appoints Francois Bayrou as Prime Minister, putting an end to political instability. The ECB reduced its key borrowing rates by 25 basis points on Thursday, but a few officials also discussed the possibility of a 50-bps cut.

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