during the European trading session. Following the opening bell in New York, EUR/USD recovered sharply from session lows before losing steam around 1.0730.
Monday’s session saw EUR/USD close above the 50-day moving average, but those gains have since been given back with American traders back online. The Euro has benefited tremendously of late from recent headlines out of the ECB, as policymakers look set to move away from negative interest rates while inflation rages across the continent. At the same time, comments from Atlanta Fed President Raphael Bostic opened the door to a potential pause from theOn Monday, Christopher Waller revealed that he plans to keep 50 basis point hikes on the table for “several meetings,” until inflation shows signs of moderating.
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