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Forex

EUR/USD Reverses Gains as USD Bounces Back

Guavy AI Editorial Team
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EUR USD
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The EUR/USD pair gave back most of its early gains on Monday after failing to rise above 1.1418.

This followed a weak start to the week for the US Dollar, which had been expected to strengthen due to diminished military aggression between the United States and Iran over the weekend.

However, with the pause in tensions, safe-haven assets like the US Dollar lost some of their appeal, causing it to bounce back against major currencies like the Euro.

This week's key events will be the Federal Reserve's monetary policy announcement on Wednesday and the release of the Eurozone Harmonized Index of Consumer Prices (HICP) data for July on Friday.

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