The Euro was softer against the Dollar and other major currencies after the President of the European Central Bank (ECB) raised the odds of a June interest rate cut.
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The US dollar trades on the front foot today.
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Confidence in the European rebound story is growing; on Tuesday Bank of America said its much-watched fund manager survey found "rising confidence in a European growth reacceleration".
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The Euro's rebound against the Dollar appears to have run its course and downside impulses are expected during the coming week, particularly if Wednesday's Federal Reserve decision proves hawkish.
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Analysts at SEB, the Scandinavian lender and investment bank, say we are approaching the time for a EUR/USD breakout to lower levels.
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The Euro to Dollar exchange rate remains set on an upward path, according to a new analysis from UOB.
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The Euro's recent rebound against the Dollar is facing a key technical test following the release of data that showed inflation in the U.S. will remain elevated for some time.
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