EUR/USD Breaks Above 1.1500 After Post-Fed Dollar Selloff
The EUR/USD exchange rate broke above 1.1500 after a post-Federal Reserve dollar selloff in July, ending the month at 1.1530. This represents a gain of just over 1% for the pair during the month, rebounding from a low of 1.1354 and reaching a high of 1.1547.
Despite this recovery, the EUR/USD remains 1.7% lower since the start of 2026, having traded between January's peak at 1.2075 and June's low of 1.1325. Danske Bank attributed the move to 'modestly stronger-than-expected Q2 GDP and July flash inflation data from the largest euro area economies', but stressed that domestic European data were not the main reason for the increase.
The pair is currently testing long-running downtrend resistance in early Asian trade, with some analysts suggesting that the Japanese yen will play a significant role in determining whether this resistance holds or snaps. The EUR/USD's recent price action has been influenced by an artificial decline in the dollar, which may be temporary.