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EUR/USD stays near 2025 lows as USD gains ahead of US data
The euro traded around 1.1330 during the Asian session, close to its lowest level since May 2025, as markets priced more than a 90% chance of a US rate hike by year-end.
EUR/USD remained under selling pressure for a third straight day, trading around the 1.1330 area during Wednesday's Asian session and near its lowest level since May 2025, which it touched the previous day, according to FXStreet.
FXStreet said the move was supported by a stronger US dollar bias, and by expectations around upcoming US data including US PCE and Q2 GDP, while also pointing to dovish leaning comments from ECB President Christine Lagarde that undercut market bets for another October rate hike.
The outlet also cited that traders took in earlier remarks from New York Fed President John Williams about not needing to rush the next move, but noted that those reactions were short lived because traders are still pricing in over a 90% chance of a rate hike by the end of the year.
FXStreet added that the US-Iran standoff has helped support the dollar as a safe haven, reinforcing the negative outlook for EUR/USD into the data window.
Latest closeEUR/USD 1.137 ▼0.1%