Euro Holds Breath, Dollar Remains Dominant
EUR/USD attempted to hold the 1.1600 area during Wednesday's Asian session after three days of weakness. The euro's rebound attempt faltered as the US dollar remained strong, supported by easing US-China trade tensions following President Donald Trump's comments about the possibility of a consensus after meeting with Xi Jinping in South Korea later this month. The DXY also remained firm near 99.00, while hopes for an end to the US government shutdown, following optimistic signals from the White House, added to the greenback's support.
In Europe, market participants tended to be cautious ahead of speeches by Christine Lagarde and Luis De Guindos at the start of the US session. The next major trigger will be the ECB policy decision next week; without any new surprises, EUR/USD's movement is likely to remain limited while awaiting further directional signals from ECB officials' comments, US-China trade headlines, and sentiment toward the reopening of the US government. (az)
Source: Newsmaker.id
