The EUR/USD climbs during the North American session registers 0.08% gains courtesy of a drop in US Treasury bond yields after Tuesday’s inflation report in the United States.
The EUR/USD tumbled from around daily highs at 1.0796 following a red-hot inflation report in the United States (US) that pushed back expectations of Federal Reserve interest rate cuts, as seen by futures market data.
The GBP/USD plunges below 1.2600 as strong economic data from the United States (US) suggests the Federal Reserve (Fed) would keep interest rates higher for longer.
The USD/JPY surged to a three-month high of 150.81 after the US Bureau of Labor Statistics (BLS) revealed that inflation in the United States (US) remains above the 3% threshold, although slowing down.