European Central Bank (ECB) Governing Council member and Governor of the National Bank of Slovakia (NBS), Peter Kazimir, said during the European trading session on Tuesday that the interest rate hike at the policy meeting earlier this month was “unavoidable”.
USD/JPY loses ground after posting minor gains the previous day, trading around 157.30 during the Asian hours on Tuesday. The currency pair is remaining within a symmetrical triangle, which indicates a period of market consolidation, where neither buyers nor sellers are in control.
The EUR/USD pair trades in negative territory around 1.1360 during the early European session on Tuesday. The Euro (EUR) weakens to its lowest since July 28 against the US Dollar (USD), pressured by surging US Treasury bond yields and hawkish signals from the Federal Reserve (Fed) officials.