The US Dollar (USD) managed to extend its weekly recovery, making the risk complex vulnerable and prompting another test of the vicinity of the 1.0800 zone by EUR/USD on Wednesday.
EUR/USD tumbles to three-day lows near 1.0800. The Greenback picked up extra pace amidst higher yields. The ECB might not reduce its interest rates in June. The US Dollar managed to extend its weekly recovery, making the risk complex vulnerable and prompting another test of the vicinity of the 1.0800 zone by EUR/USD on Wednesday.
Regarding the European Central Bank , higher inflation figures in May poured cold water over expectations of a rate cut in June ahead of the release of the flash CPI for the broader Euroland later in the week. Looking ahead, the relatively subdued economic fundamentals in the Eurozone, coupled with the resilience of the US economy, reinforce the ongoing narrative of Fed-ECB policy divergence and suggest a stronger Dollar in the long run.
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