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EUR/USD Dips Near 1.1650 Ahead of Key US Inflation Data

Guavy AI Editorial Team
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The EUR/USD pair has been trading in negative territory near $1.1665 during early European trading hours on Wednesday, pressured by a rebound in the US Dollar.

Markets are cautious ahead of the release of the key US July Personal Consumption Expenditures (PCE) Price Index report later on Wednesday.

Economists expect that inflationary pressures remain sticky due to ongoing energy risks from the Middle East conflict, which could bolster the case for a US interest rate hike in September and lift the Greenback against the Euro.

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