EUR/USD experienced some whipsaw price action yesterday as the pair fluctuated between losses and gains for the majority of the day. The European open this morning has seen a slight bounce higher with a sustained break above the 1.07 level needed for the upside rally to continue.
Keeping EUR/USD supported of late has been the more hawkish rhetoric from the European Central Bank (ECB) in comparison to the US Federal Reserve (FED). ECB policymaker Klaas Knot reiterated this in an interview yesterday stating that between now and July 2023 the ECB would deliver “quite a decent pace of tightening.
