Before the Federal Reserve meeting, traders sold the US dollar, so the euro price went up in the Tokyo market.
In the European market, the May HICP (inflation report) was 1.9%, which is lower than the European Central Bank’s target of 2%. This result means the ECB may lower interest rates in the future.
In the New York market, there was news that Iran wants to negotiate, so the dollar went down and the euro went up to a high of 1.1530.
But after the Federal Reserve meeting, they said they will be careful about lowering interest rates because of problems like trade tariffs and the Middle East situation. After this, the euro price fell again.
In the end, the euro could not go above the 1.16 level. For now, the euro will probably stay weak because traders still want to buy the US dollar when there is risk.
Expected EUR/USD Price Range:1.1420 – 1.1530
Note: This information does not guarantee any profit. Please make your own decisions when trading.