Euro futures closed lower for the second consecutive session at 1.1565 and briefly dipped below 1.1550 for the fourth time since August 1st, also marking only the third close below 1.16 in the same period. Since the mid-September year-to-date high, Euro futures are down approximately 3%. Volatility, as measured by the CME Group's CVOL Index, continues to decline and is nearing one-year lows. The European Central Bank (ECB) held rates and announced no change in policy, emphasizing a data-dependent approach without a preset path for future actions. The recent pressure on the euro is largely attributed to a stronger US Dollar, which was propped up by the Federal Reserve's slightly less dovish tone following its rate cut yesterday. The strengthening dollar has been a key factor pushing Euro futures lower.