The EUR/USD exchange rate is holding steady above the mid-1.1600s as traders await the release of the U.S. Personal Consumption Expenditures (PCE) price index data.
Market participants are adopting a cautious stance ahead of the data, which is the Federal Reserve's preferred inflation gauge.
The PCE data is expected to show a year-over-year increase of around 4.2% for the core measure, according to consensus estimates.
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