EUR/USD weakens below 1.1700 as Fed keeps rates unchanged
EUR/USD holds near 1.1670 as Fed leaves rates unchanged
EUR/USD drops as strong US data and Iran impasse lift Dollar bids
Another day, another rise in oil prices. Brent futures were now up for the eighth consecutive day, testing $115 per barrel and adding more inflationary pressure into the global economy.
EUR/USD is slightly lower on Wednesday, trading with minimal movement around 1.1708. The market is preparing for a Federal Reserve meeting, which could be Jerome Powell's last before his term ends in May.
European currencies are showing subdued dynamics, entering a consolidation phase following their previous advance. Earlier, EUR/USD and GBP/USD broke out of their ranges and strengthened; however, the subsequent correction has led both pairs to retest the previously breached upper boundaries of their sideways channels.
EUR/USD: Fed and ECB hold expectations guide pair – Danske Bank
EUR/USD wavers around 1.1700 as the Fed steals attention from Iran's war
EUR/USD: Consolidation band guidance – UOB
EUR/USD Price Forecast: Likely find direction after Fed's policy announcement
EUR/USD declines to near 1.1700 ahead of Fed rate decision
The EUR/USD forecasts currently favour the greenback heading into the key interest rate decisions by the ECB and Fed.