- Euro comes under pressure versus the US Dollar on Wednesday despite an upwards revision to Euro area inflation data.
- USD is supported by strong US banking results, persistent inflation and hawkish Fed commentary.
- Upside for Euro dependent on April inflation data and ECB Bank Lending Survey.
The Euro (EUR) trades in the mid 1.09s against the US Dollar (USD) during the late European session on Wednesday. EUR/USD has pulled back over recent days after briefly making year-to-date highs of 1.1075 on April 14. The correction comes on the back of a strengthening US Dollar as bets crystalize that the Federal Reserve (Fed) will continue raising interest rates.
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