Euro Holds Steady at 1.1730 as German Inflation Dips and FOMC Debates Rate Cuts

The euro remains steady, trading at 1.1730 in the European session, up 0.09% for the day. German inflation dipped to 2% in June, with energy and food prices falling. The ECB is facing challenges as services inflation remains high, while the euro’s appreciation is hurting exports. The ECB lowered the deposit rate to 2% in June, and if inflation continues to trend lower, a rate cut may be expected in July. FOMC minutes from the June meeting showed a split among members on the timing and pace of rate cuts, with some pushing for a cut in July.

Read more at Investing.com: German CPI Confirmed at 2.0%, Euro Drifting, FOMC Split Over Cuts