The EUR/USD pair struggles to capitalize on the previous day's positive move and trades with a mild negative bias during the Asian session on Tuesday.
EUR/USD ticks lower during the Asian session amid the emergence of some USD dip-buying. Expectations that the ECB is done raising rates further contribute to capping gains for the pair. Traders now look to the flash Eurozone CPI print for some impetus ahead of the US macro data. Spot prices, however, manage to hold above the 1.0600 round figure and remain at the mercy of the US Dollar price dynamics.
Investors seem convinced that the Fed will stick to its hawkish stance in the wake of the US economic resilience and still sticky inflation. Hence, the focus will remain glued to the outcome of the highly-anticipated two-day FOMC monetary policy meeting. The US central bank will announce its decision on Wednesday and is widely anticipated to maintain the status quo for the second straight meeting.
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