The EUR/USD pair extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session.
EUR/USD remains under selling pressure near 1.0640 on the stronger USD on Friday. Fed’sBostic said US inflationis expectedto return to targetat a slower pace than previouslyanticipated. ECB policymakers noted the central bank should cut rates in June to avoid falling behind the inflation curve. The hawkish comments from Federal Reserve officialsprovide some support tothe US Dollar . Later in the day, Chicago Fed Austan Goolsbeeis setto speak.
ThestrongUS economic data and the higher-for-longer US rate narrative continue to lift the Greenback and act as a headwind for the EUR/USD pair. Across the pond, the European Central Bank signaledthat itmight start cutting the interest rate in June. ECB Vice President Luis de Guindos said on Thursday that the central bank will be ready to reduce the restrictions on its monetary policy stance if the data evolves as it expects.
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