The Euro weakens against the Dollar as investors await US PCE data and Jackson Hole Symposium outcomes, lifting the USD Index.
The Euro fell to near 1.1655 against the US Dollar on Tuesday, extending a pullback from its four-day high of 1.1711. The decline comes as the Dollar strengthens ahead of critical US economic releases, including July’s Personal Consumption Expenditure Price Index and the Jackson Hole Symposium.
The US Dollar Index rose 0.1% to 99.07, reflecting short-term recovery momentum. Analysts note that while event-driven caution supports the Dollar’s near-term gains, broader technical trends remain bearish. No clear reversal signal has emerged despite moderating downward pressure.
Meanwhile, the Euro’s outlook stays firm, with markets pricing in a European Central Bank rate hike next month. Eurozone economic resilience continues to underpin expectations for tighter monetary policy.