Euro Weakens Below 1.14 as Dollar Index Holds Above 101
The euro has dipped below 1.14 against the dollar, while the Dollar Index remains above 101. The ECB kept rates unchanged but hinted at a potential rate hike.
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US Treasury yields are moving, providing support for the dollar. The Dollar Index continues to hold strong above the 101 mark, reflecting broad dollar strength.
The euro has broken below the 1.14 level, following its intrinsic near-term trend. Further downside is expected, with the pair likely targeting the 1.1350–1.13 zone in the near term.
The European Central Bank kept interest rates unchanged at its latest meeting, but analysts note there is high scope for a rate hike in the coming months, which could eventually provide support for the euro.
Source: FXStreet Forex News