EUR/USD Price Analysis: Advances to over one-week high, closer to mid-1.0800s
The EUR/USD pair attracts some buyers for the third successive day on Thursday and climbs to a one-and-half-week top, closer to mid-1.0800s during the Asian session.
The US Dollar (USD) extends this week's corrective decline from the highest level since February 14 amid the uncertainty over the Federal Reserve’s (Fed) rate cut path. Apart from this, a positive risk tone is seen as another factor undermining the safe-haven Greenback and acting as a tailwind for the EUR/USD pair. That said, expectations that the European Central Bank (ECB) will cut interest rates in June, bolstered by softer-than-expected Eurozone consumer inflation figures on Wednesday, might keep a lid on any further gains for the currency pair.
The EUR/USD pair attracts some buyers for the third successive day on Thursday and climbs to a one-and-half-week top, closer to mid-1.0800s during the Asian session.
The US Dollar (USD) extends this week's corrective decline from the highest level since February 14 amid the uncertainty over the Federal Reserve’s (Fed) rate cut path. Apart from this, a positive risk tone is seen as another factor undermining the safe-haven Greenback and acting as a tailwind for the EUR/USD pair. That said, expectations that the European Central Bank (ECB) will cut interest rates in June, bolstered by softer-than-expected Eurozone consumer inflation figures on Wednesday, might keep a lid on any further gains for the currency pair.
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