EUR/USD Falls Below 1.1400 as Fed Rate Hike Expectations Boost Dollar
EUR/USD extended its decline to near 1.1380 in early Asian trading, pressured by growing bets on a Federal Reserve rate hike that lifted the US dollar. Traders also monitored US-Iran peace developments.
EURUSD
The EUR/USD pair traded on a negative note near 1.1380 during early Asian hours on Wednesday, extending its decline below the 1.1400 level. The move followed increased expectations of a Federal Reserve rate hike, which bolstered the US dollar against major currencies.
Traders continued to assess the impact of ongoing US-Iran peace negotiations, though the primary driver remained monetary policy divergence. The pair's weakness reflects sustained USD strength amid hawkish Fed sentiment.
Source: FXStreet Forex News