The EUR/USD pair gains ground to around 1.1195 during the Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Euro (EUR) after the cooler-than-expected US April inflation data.
The Euro (EUR) is weak, down 1.5% vs. the US Dollar (USD) and seeing its largest one day decline since early November, around the time of the US election, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR/USD trimmed into the low end on Thursday, shedding a little over two-thirds of one percent from the day’s opening bids after US Dollar (USD) bids caught a broad-market boost following the tentative announcement of a pending trade deal between the United States (US) and the United Kingdom (UK).