The currency pair stabilizes around 1.1575-1.1580 as rising oil prices stoke inflation concerns, bolstering the USD.
The EUR/USD pair remains steady near 1.1575-1.1580 during Tuesday’s Asian trading session, halting a modest recovery from its two-month low. Persistent inflation fears, driven by rising oil prices, continue to support the USD against the euro.
The pair had dipped to its lowest level in two months earlier in the week, reflecting broader market concerns over energy-driven inflation. Analysts note that the USD’s resilience stems from expectations of prolonged monetary tightening by the Federal Reserve.
No immediate market reaction was observed in early trading, with the pair trading in a narrow range.