EUR/USD Gains 0.2% as Dollar Softens in Quiet European Trade
EUR/USD edged higher by 0.2% to 1.0875 during subdued European morning trading, with the dollar index declining 0.15% to 104.30. The move lacked significant catalysts, suggesting position adjustments ahead of key data releases. GBP/USD advanced modestly to 1.2730, while USD/JPY held steady near 155.50. Trading volumes remained below average with no major economic releases scheduled. The euro found support at the 1.0850 level, coinciding with the 20-day moving average. Dollar weakness appears technical rather than fundamental, with traders awaiting Thursday's ECB meeting minutes and Friday's US jobs data for clearer direction. Immediate resistance for EUR/USD sits at 1.0890, while broader dollar weakness could push the pair toward 1.0920. The lack of volatility suggests consolidation phase continuing until fresh fundamental drivers emerge.
Related Symbols:
EURUSD
GBPUSD
USDJPY
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