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The euro depreciated against the US dollar.

On Tuesday, ECB Governing Council member Madis Muller said that “we’re closer to a point where the ECB can start cutting rates.

He added that “data may confirm the inflation trend for the ECB’s June meeting. Moreover, Fabio Panetta said that inflation was quickly falling to target and therefore there was a "consensus emerging" for a rate cut.

 For this reason, the value of Euro continues to decline against US dollar.  

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