EUR/USD Capped Below 1.1500 as Inflation Concerns Mount

The EUR/USD exchange rate has been capped below 1.1500, leaving the 1.1450 support area exposed.

Chicago Fed President Austan Goolsbee reinforced the Federal Reserve's hawkish stance, stating that the US 'right now does not have an employment problem; it does have an inflation problem.'

In Europe, growing uncertainty in Germany has offset the positive impact of lower Oil prices on the Euro.

The preliminary Purchasing Managers Index (PMI) figures from the Eurozone and the US, due on Wednesday, will provide further clues about the economic momentum of their respective economies.