EUR/USD recovers from one-week low
The EUR/USD pair dropped to a one-and-a-half-week low during the European session, but managed to recover from the 1.1500 mark.
The lack of an upside surprise from the US Consumer Price Index eased pressure on the Federal Reserve regarding potential interest rate hikes.
Money markets price in a 90% probability that the European Central Bank will raise interest rates by 25 basis points at its September policy meeting.