Forex
EUR/USD Traders Bide Time Ahead of US CPI Release
The EUR/USD pair is trading near the 1.1550 level as investors await the release of US Consumer Price Index (CPI) data.
Despite hot German inflation, which accelerated to a 2.8% year-over-year rate in July, the Euro has failed to gain momentum against the US Dollar.
The positive impact on the Euro was short-lived as growing concerns about the Middle East tensions weigh heavily on the currency.
US Dollar rallies remain limited due to investors' cautious approach ahead of the CPI release, which is expected to show a moderate slowdown in July's consumer prices.