EUR/USD holds steady as US core inflation meets 2% Fed target
EUR/USD traded in a tight range around 1.0745, showing minimal reaction to US core inflation hitting the Fed's 2% target. Despite achieving the inflation goal, Federal Reserve officials remain cautious about rate cuts, citing labor market strength and potential inflation persistence. The pair found support at 1.0730 after briefly dipping on dollar strength. European Central Bank officials have signaled potential rate cuts ahead of the Fed, creating policy divergence concerns. USD/JPY remained elevated at 157.20, while USD/CHF jumped to 0.9125 following SNB easing. Technical indicators suggest EUR/USD consolidation between 1.0720-1.0770, with a breakout needed for directional clarity. Traders await Friday's US retail sales data and next week's Fed minutes for clearer policy signals. The inflation milestone hasn't triggered immediate Fed dovishness, keeping dollar supported.
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