EUR/USD hits fresh monthly highs above 1.1800 with US PPI data on tap

EUR/USD advanced to a fresh monthly high above 1.1800 amid renewed euro strength and dollar softness ahead of the U.S. Producer Price Index release. The move reflects shifting rate differential expectations, as persistent disinflation in the eurozone has tempered ECB rate cut bets while weaker U.S. inflation prints could reinforce the Fed's dovish stance. This dynamic is amplifying capital flows into EUR-denominated assets and pressuring the dollar, particularly against major peers. The upcoming U.S. PPI data will be critical in confirming whether producer-level inflation is cooling, which could further erode yield support for the dollar. Traders will closely watch the U.S. CPI report later in the week as the next key catalyst for Fed policy repricing.

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