Euro Slips Toward 1.1450 on Hawkish Fed, Markets Eye GDP Data

EUR/USD traded with mild losses around 1.1465 during the Asian session, as a firmer US dollar weighed on the single currency. The move followed the Federal Reserve’s decision to keep interest rates unchanged while signaling a restrictive policy stance, which lent support to the greenback.

Market attention now turns to the upcoming release of Eurozone and German GDP data. The numbers are expected to influence near-term expectations for European Central Bank policy and could determine whether the euro can stabilise or extend its decline.

The pair has been drifting lower and is approaching the 1.1450 level. A break below that support might open the door to further losses, especially if growth numbers disappoint. Any upside surprise in the data, however, could offer the euro temporary respite.