Euro declines to near 1.1400 as softer German inflation undercuts ECB hike bets
EUR/USD slipped to around 1.1410 in early Asian trading on Wednesday, pressured by reduced expectations for aggressive ECB tightening following softer German inflation data.
EURUSD
The euro weakened against the dollar, with EUR/USD dropping to near 1.1410 during early Asian hours on Wednesday. The move lower comes as softer German inflation figures dampen market expectations for aggressive interest rate hikes by the European Central Bank.
Traders are reassessing the ECB's tightening path after the data suggested price pressures in the eurozone's largest economy may be easing. This reduces the likelihood of rapid rate increases, weighing on the euro.
Source: FXStreet Forex News