September Euro futures resumed their sell-off, snapping a three-day rally as traders digested diverging central bank tones from the ECB and the Fed. Speaking in Sintra, Portugal, ECB President Christine Lagarde strongly defended the central bank's June rate hike and pointed to a shift toward simpler policy tools. In contrast, Fed Chair Kevin Warsh offered a softer tone, noting that some persistent inflation risks have moderated. Meanwhile, updated Eurosystem staff projections show inflation gradually returning to the 2% target by late 2027, alongside trimmed GDP growth forecasts. Tighter European policy may offer currency support, but slower growth estimates could limit the upside.