• EUR/USD rallies after a dovish hold by the Fed weakens the US Dollar. 
• The Fed continues to expect to make three 0.25% interest rate cuts in 2024, same as December. 
• Eurozone PMI data to give the latest assessment of the region’s economic well being. 

EUR/USD is trading back up in the 1.0900s on Thursday, after surging higher following the Federal Reserve (Fed) meeting. The US central bank maintained the policy status quo and slightly wrong-footed markets, which had been expecting a more hawkish shift in light of recent warmer-than-expected inflation.