Euro Faces Downside Risks Against USD, Eyes 1.1570 – UOB

UOB has highlighted downside risks for the Euro against the US Dollar, particularly focusing on the 1.1570 level. This assessment reflects concerns over rate differentials, as the European Central Bank's monetary policy may remain more accommodative compared to the Federal Reserve's tightening stance. The Euro is most exposed due to these diverging monetary policies, which could lead to further depreciation against the Dollar. Traders will be particularly attentive to upcoming inflation data from the Eurozone, as any signs of persistent inflation could influence the ECB's policy outlook and impact the Euro's trajectory.

The Euro (EUR) is the currency of 20 European Union member states. Major EUR movers include ECB Governing Council decisions, Eurozone CPI prints, Bund/BTP spread events, and political risk from France, Germany and Italy.

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