The EUR/USD pair snaps its four-day losing streak during the early Asian session on Monday. Market participants will digest the outcome of the Federal
Reserve meeting last week and await the US Core Personal Consumption Expenditure index data due on Thursday. The major pair currently trades near 1.0650, gaining 0.05% on the day.
European Central Bank Chief Economist Phillip Lane said on early Friday that inflation above 2% is costly for the economy and that central banks attempt to control inflation over the medium term. ECB is expected to end its hiking cycle and will stay on hold until at least July next year, according to economists in a Reuters poll. It's worth recalling that the ECB raised its key interest rate to a record high of 4% on September 14.
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