An extra rebound in the US Dollar (USD) prompted EUR/USD to build on Tuesday’s retracement and visit the 1.0730 region, or three-day lows, on Wednesday.
EUR/USD added to Tuesday’s losses and retested 1.0730. The US Dollar kept its bullish bias amidst higher yields. The ECB ’s Holzmann and Wunsch advocated for rate cuts this year. An extra rebound in the US Dollar prompted EUR/USD to build on Tuesday’s retracement and visit the 1.0730 region, or three-day lows, on Wednesday. That said, spot extended further the recent rejection from tops north of 1.0800 the figure .
Regarding the ECB, recent statements from ECB officials suggested the increasing possibility of the ECB starting its easing programme in June, leading to speculation about three interest rate cuts for the remainder of the year. However, uncertainties persist regarding the central bank's future decisions beyond the summer.
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