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fxJun 24, 2026, 3:07 PM

EUR/USD Extends Decline as Fed Tightening Expectations Outweigh German IFO Improvement

The euro fell for a third consecutive day on Wednesday, with EUR/USD trading around 1.1340, down 0.39%, as expectations of additional Federal Reserve tightening bolstered the US dollar and overshadowed better-than-expected German IFO business climate data.

EURUSD

The euro extended its losing streak on Wednesday, with EUR/USD slipping to around 1.1340, a decline of 0.39% on the day. The move marks the third straight session of losses for the single currency.

The US dollar gained renewed support from expectations that the Federal Reserve will continue its aggressive monetary tightening cycle. This hawkish repricing eclipsed an improvement in Germany's IFO business climate index, which had pointed to a slight uptick in sentiment in Europe's largest economy.

Traders remain focused on the widening policy divergence between the Fed and the European Central Bank, with the dollar benefiting from higher yield prospects in the US.

Source: FXStreet Forex News