The EUR/USD pair attracts some sellers around 1.0885 during the early Asian session on Monday.
EUR/USD trades with a bearish bias near 1.0885 in Monday’s early Asian session. The US PPI inflation rose faster than expected in June. US political violence over the weekend lifts the Greenback, a safe-haven currency. The major pair edges lower amid risk aversion, triggering a fresh bid of the US Dollar . The Eurozone May Industrial Production, July NY Empire State Manufacturing Index will be released on Monday, along with the Federal Reserve's Mary Daly speech.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.
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