EUR/USD stays on the back foot and edges lower toward the 1.0850 area in the early European session on Tuesday, after closing in negative territory on Monday.
EUR/USD came under renewed bearish pressure and declined toward 1.0850. Rising US Treasury bond yields continue to support the USD ahead of the Fed policy meeting. Additional losses could be seen in case 1.0860 support fails. The near-term technical outlook suggests that the bearish bias stays intact. The US Dollar gathered strength against its rivals to begin the week and caused EUR/USD to stretch lower in the first half of the day on Monday.
0900 and 1.0920 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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