EUR/USD falls back from a fresh monthly high (1.0094) even as the European Central Bank (ECB) implements another 75bp rate hike, and fresh data prints coming out of the US may fuel the recent decline in the exchange rate as the Personal Consumption Expenditure (PCE) Price Index is anticipated to show sticky inflation.
EUR/USD RATE VULNERABLE TO ANOTHER RISE IN US PCE
EUR/USD struggles to retain the advance from earlier this week as the ECB emphasizes that the Governing Council has “made substantial progress in withdrawing monetary policy accommodation,” with President Christine Lagarde and Co. showing little interest in pursuing a restrictive policy as “future policy rate decisions will continue to be data-dependent and follow a meeting-by-meeting approach.”
