The EUR/USD pair struggles around the 1.0700 mark on Wednesday as the US Dollar maintains the firm footing triggered by higher-than-anticipated United States (US) inflation.
EUR/USD Current price: 1.0703 Market players are concerned the timing for rate cuts will be further extended. Stock markets struggle to revert recent losses, yields remain near fresh highs. EUR/USD consolidates at around 1.0700, has scope to extend the slump. The EUR/USD pair struggles around the 1.0700 mark on Wednesdayas the US Dollar maintains the firm footing triggered by higher-than-anticipated United States inflation.
Also, Governing Council member Boris Vujcic added that the central bank seems to be getting the inflation fight “right,” refraining from commenting on the timing for a policy shift. Data-wise, the EU published December Industrial Production, up 2.6% MoM against a 0.2% slide anticipated. The second estimate of the EU Gross Domestic Product was confirmed at 0% QoQ and at 0.1% YoY as previously calculated.
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