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Dollar holds near-flat as EURUSD, USDJPY and GBPUSD trade tight
All three major pairs were within 0.13% of unchanged as traders waited for the next catalyst, with ECB messaging overnight leaning hawkish.
The US dollar was little changed versus major currencies at the start of the North American session, with EURUSD, USDJPY, and GBPUSD each trading within 0.13% of unchanged in a tight range.
Forexlive said market participants appeared to be waiting for the next push as incoming developments were limited, with attention also on a later-day sports event.
Overnight, the broader tone was shaped by ECB commentary that was generally hawkish. ECB Executive Board member Fabio Panetta said eurozone inflation is running near 3% and is expected to remain above that level into early 2027.
Panetta and other officials warned that higher energy prices, tighter financial conditions, and geopolitical risks could keep inflation pressures elevated, while also stressing the need to keep policy restrictive until inflation is durably returning to the ECB’s 2% target.