Forex
Euro Tumbles as Stronger Dollar Expectations Trump Eurozone Inflation Hopes
The EUR/USD pair is trading near 1.1600 on Tuesday, down about 0.10%, after failing to extend its rebound from the 100-day Simple Moving Average around 1.1575-1.1580.
The stronger expectations for a Federal Reserve rate hike and heightened US-Iran tensions are underpinning demand for the US Dollar and weighing on the euro.
Investors are focusing on the preliminary Eurozone HICP release and upcoming US data, including ISM Manufacturing PMI, JOLTS, and Friday's Nonfarm Payrolls.