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EUR/USD falls to the lower 1.0700s on Tuesday after more strong US macroeconomic data supports the US Dollar (USD), pushing down the probability of the US Federal Reserve (Fed) cutting interest rates by June to close to 50%.
EUR/USD came under bearish pressure in the American session on Monday and dropped to its lowest level since mid-February below 1.0750.
The Pound Sterling registered solid gains on Tuesday after diving to a one-month low of 1.2539 on Monday as European financial markets were shut off due to a holiday.
The Pound Sterling (GBP) faces some sell-off in Monday’s London session amid uncertainty as investors are yet to return to the FX domain after a holiday-stretched weekend on account of Good Friday and Easter Monday.
EUR/USD moves up and down in a very narrow band slightly below 1.0800 on Monday after closing the previous week marginally lower.