The Euro is gaining ground, rising 0.07% against the US Dollar as it consolidates near 1.11687, supported by expectations of US interest rate cuts.
With a projected 71% chance of a 25-basis point rate cut by the Fed, the Euro's strength contrasts sharply with falling German consumer sentiment.
The GfK Consumer Climate Index for Germany fell to -22 points due to income expectations plummeting amidst worries over job security and corporate insolvencies.
Despite disappointing economic indicators, the narrowing yield gap between US and eurozone bonds is lending support to the Euro's performance.
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