The EUR/USD pair drifts lower for the third successive day – also marking the fourth day of a negative move in the previous five – and drops to a nearly seven-month low, around the 1.0620 region during the early European session on Tuesday.
EUR/USD drops to a fresh multi-month low on Tuesday and is weighed down by a combination of factors. The USD benefits from Trump-related trades and drags the pair lower amid German political uncertainty. Worries about the highly probable Trump tariffs contribute to driving flows away from the shared currency.
Traders now look to the release of the final German CPI print and German ZEW Economic Sentiment for a fresh impetus. Later during the US session, traders will take cues from speeches by influential FOMC members. Apart from this, the latest US consumer inflation figures on Wednesday and Fed Chair Jerome Powell's speech on Thursday will play a key role in influencing market expectations about the future rate-cut path.
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