Euro Stalls as Fed Hike Bets Offset Cooler Eurozone CPI
The euro failed to gain traction against the US dollar on Tuesday, holding steady near 1.1400 as economic data from both the Eurozone and the US had little impact on the pair.
EURUSD
The EUR/USD pair remained virtually unchanged around the 1.1400 mark on Tuesday, as traders weighed conflicting signals from the two economies.
On one hand, cooler-than-expected Eurozone CPI data dampened expectations for aggressive ECB tightening. On the other, persistent bets on further Federal Reserve rate hikes provided support for the US dollar, keeping the euro from advancing.
Source: FXStreet Forex News