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EUR/USD Trades Sideways on ECB Speeches and Mixed US Data

The EUR/USD currency pair today traded sideways by rallying higher in the late Asian session and early European session before heading lower. The currency pair declined despite speeches from European Central Bank members, but later rallied higher on mixed US data.

Euro Logs Gains Against Major Counterparts

Euro is heading higher today, logging gains against its major counterparts. Forex traders are waiting for speeches from ECB Executive Board members, and there is also anticipation for inflation numbers set to be released on Friday. Clues about where the euro could be headed next are likely coming.

Euro Rises as Traders Await Interest Rates Hike by ECB

The euro reached the highest level in five months against the US dollar today on the speculation that the European Central Bank will raise the interest rates on the next meeting of its policy makers. The currency currently retreated closer to the opening level.

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