EUR/USD Fails to Sustain Gains Amid Volatility and ECB Jitters
The EUR/USD exchange rate is struggling to extend its gains on Wednesday due to increased volatility sparked by the US Treasury's bond-buyback announcement. This move pushed up Treasury yields, helping the US Dollar (USD) trim its losses.
Traders are being cautious ahead of Thursday's European Central Bank (ECB) interest rate decision, which is expected to remain supportive of policy expectations. Strategists at Scotiabank note that 'a 25bpt ...
At the time of writing, EUR/USD trades around 1.1640 as it attempts to break above the 200-day Simple Moving Average (SMA) at 1.1633.