US Federal Reserve is in the spotlight after Brainard's comments and ahead of the FOMC Minutes.EUR/USD is nearing the 1.0900 level and would likely break below it.plunged to the 1.0900 region, its lowest since mid-March, as the American dollar benefited from central banks’ aggressiveness and persistent turmoil in Eastern Europe.
On Wednesday, the calendar will include German Factory Orders and the EU February Producer Price Index. The US will release the FOMC Meeting Minutes. The document will likely have a limited impact, given comments from Federal Reserve officials post-meeting. US Fed Governor Lael Brainard hinted at an aggressive reduction of the balance sheet and noted that combined with rate hikes would move monetary policy closer to neutral later this year.
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