The selling bias around the EUR/USD pair remains unabated for the fifth consecutive day in the wake of the continuation of the so-called Trump trade, which has been a key factor behind the post-election US Dollar (USD) rally.
EUR/USD continues losing ground for the fifth straight day amid relentless USD buying. The Trump trade optimism and elevated US bond yields continue to underpin the buck. German political chaos and concerns over Trump’s protectionist tariffs weigh on the Euro. The selling bias around the EUR/USD pair remains unabated for the fifth consecutive day in the wake of the continuation of the so-called Trump trade, which has been a key factor behind the post-election US Dollar rally.
Hence, investors will closely scrutinize Fed Chair Jerome Powell's comments on Thursday for cues about the rate-cut path. This, in turn, will play a key role in influencing the near-term USD price dynamics and provide some meaningful impetus to the EUR/USD pair. In the meantime, the shared currency might continue to feel pressure from the political uncertainty in Germany, following the collapse of the governing coalition in the Eurozone's largest economy.
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