EUR/USD traded in a range between 1.17 and 1.1725 recently, buoyed by broad US Dollar softness and anticipation of further European Central Bank (ECB) rate hikes. According to ING, the euro remains well supported amid mild eurozone growth reflected in August PMIs and persistent inflation pressures, which strengthen the case for additional ECB tightening.
Commerzbank noted that the US Dollar continues to face downward pressure, partly influenced by the US Treasury’s expansion of Liquidity Support Buyback Operations, helping EUR/USD to hold steady around the 1.17 level. Meanwhile, United Overseas Bank (UOB) reported that EUR/USD maintained recent gains at 1.1685, with expected intraday trading between 1.1655 and 1.1715.
For Japanese investors, these developments in EUR/USD highlight ongoing shifts in global currency dynamics amid divergent monetary policies, which may influence FX strategies alongside Japan’s own market movements.