EUR/USD – Bulls Regain Footing After Overnight Dollar Strength Fades
EUR/USD staged an intraday recovery during the New York trading session after encountering overnight selling pressure that pushed the pair down from 1.1678 to an early session low of 1.1630 on the EBS platform. The initial decline was primarily driven by broad-based U.S. dollar buying during Asian and European trading hours. However, this dollar strength notably dissipated as the NY session progressed, allowing EUR/USD to retrace its earlier losses substantially, rallying back towards 1.1670 and closing near 1.1661, down just 0.04% on the day.