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fxAug 3, 2026, 1:20 AM

Euro holds near mid-1.1500s, highest since June 17 on reduced Fed hike bets

EUR/USD trades near 1.1550, its strongest level since mid-June, as fading expectations for aggressive Fed rate hikes weigh on the dollar.

EURUSD

The euro continues its rally against the dollar, holding near 1.1550 after breaking above the 1.1460-1.1470 resistance zone last week. The pair has risen for five consecutive sessions, reaching its highest level since June 17.

Fading expectations for additional Federal Reserve interest-rate hikes have pressured the US currency, providing tailwinds for EUR/USD. The breakout above the key technical barrier has drawn fresh buying interest.

Source: FXStreet Forex News