EUR/USD comes under pressure near 1.0850 – by pabspiovano EURUSD Currencies Majors
The greenback trims part of the recent weakness amidst mixed yields.appears to have met a tough barrier around the 1.0850 region for the time being.EUR/USD loses some momentum following an auspicious first half of the week and comes under some selling pressure on the back of the bounce in the greenback and the broad-based offered stance in the risk complex.
In the domestic calendar, Consumer Confidence tracked by GfK in Germany improved marginally to -29.5 for the month of April , while the Consumer Confidence in France receded to 81 in March .What to look for around EUR In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB in a context still dominated by elevated inflation, although amidst dwindling recession risks for the time being.
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