EUR/USD maintains its position near 1.1500, supported by a weakened US Dollar following President Trump’s criticism of the Federal Reserve’s independence. Trump attributes potential US economic deceleration to Fed Chairman Powell’s policies. The European Central Bank (ECB) is anticipated to reduce interest rates in June, driven by increasing downside risks to Eurozone inflation. While experiencing minor fluctuations, EUR/USD remains stable around 1.1500 during European trading hours. The currency pair is consolidating after recent gains, potentially preparing for further upward movement as the USD faces continued pressure from escalating tensions between the Federal Reserve and the US President regarding monetary policy. The US Dollar Index (DXY) is attempting to stabilize after reaching a three-year low near 98.00. President Trump has reiterated his criticism of Fed Chair Powell for not implementing interest rate cuts, cautioning that the economy could face a downturn if rates are not lowered promptly.
