EUR/USD slid to a 16-month low as US rate-hike expectations remained elevated after August PCE inflation undershot forecasts. ING's Chris Turner said the softer PCE did little to dent Fed tightening bets, likely because other US activity indicators remain strong: consumer spending stayed firm and Wednesday's ADP private‑sector employment report showed signs of accelerating job growth.

2026-10-01

EUR/USD slid to a 16-month low as US rate-hike expectations remained elevated after August PCE inflation undershot forecasts. ING's Chris Turner said the softer PCE did little to dent Fed tightening bets, likely because other US activity indicators remain strong: consumer spending stayed firm and Wednesday's ADP private‑sector employment report showed signs of accelerating job growth.