The EUR/USD registered solid gains of 0.19% on Wednesday, courtesy of a softer US Dollar amidst high US Treasury bond yields.
EUR/USD makes modest gains in a mixed market environment, reacting to shifts in US Treasury yields. Anticipation of rate cuts by ECB and Fed in June adds to the currency dynamics, with both currencies under watch. ECB policymakers hint at cautious approach to rate cuts, emphasizing inflation targets ahead of key decisions. An absent economic docket in the US, left traders adrift to Eurozone economic data and European Central Bank speakers. At the time of writing, the pair exchanges hands at 1.
ECB policymaker Villeroy suggested a potential rate cut in spring hinge, adding that the Government Council would monitor inflation until it reached 2%. His colleague Kazaks echoed some of his comments, adding that a decision to cut rates will be made at upcoming meetings. EUR/USD Price Analysis: Technical outlook The pair is upward biased, though the Relative Strength Index indicator, suggests that buyers are losing momentum. They need to reclaim Wednesday’s high of 1.
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