During Thursday session on July 19, the US Dollar depreciated 37 pips or 0.32% against the European Common Currency. Note, that the Greenback also depreciated against other major currencies.
The reason for the depreciation is the speech of New York Federal Reserve President John Williams.
According to Williams, the US policymakers have to "act quickly" as the global economic growth is slowing. "It's better to take preventative measures than to wait for disaster to unfold," he said during the annual meeting of the Central Bank Research Association.
Now, the market participants expect the federal funds rate to be cut for 50 basis points.