EUR/USD Trades Near 1.1356 as Traders Reassess Hawkish Fed Expectations

The EUR/USD currency pair is trading near 1.1356 as the US Dollar comes under pressure.

Traders are reassessing hawkish Federal Reserve expectations after New York Fed Bank President John Williams refuted the urgency of a September interest rate hike.

Williams stated that while further policy tightening is possible, 'if economy meets expectations, one further hike likely this year.'

The odds of the Fed delivering an interest rate hike in October have diminished to 44.8% from 70.9% seen on Monday.

Investors await the German preliminary Harmonized Index of Consumer Prices (HICP) data for September, which is expected to show price pressures accelerated to 3.1% Year-on-Year (YoY).