The euro has been seeing downward pressure against the greenback since the beginning of this month:
(Source: Investing.com)
While the Federal Reserve has recently cut rates - the indications are that the central bank is ruling out any further rate cuts for the time being - encouraging employment figures in October have given confidence that the U.S. economy is not at as much at risk of a recession as once thought. As a result, the dollar continues to retain its strength in the currency markets.
Meanwhile, Mario Draghi’s legacy of quantitative easing remains alive and