EUR/USD extends gains due to weaker US Dollar. ECB is expected to pause its interest rate tightening cycle. Greenback weakens on a slew of dovish remarks by Fed officials. is receiving upward support due to the continued correction in the US Dollar on the dovish remarks by Federal Reserve officials.
The Producer Price Index is scheduled for Wednesday, followed by the release of the FOMC meeting minutes and the Consumer Price Index on Thursday. On the other side, the uptick in German bond yields could limit the advancement of the EUR/USD pair, as market participants anticipate the European Central Bank to pause its tightening cycle.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: