EUR/USD surges beyond 1.2300 with Fed´s press conference

US Federal Reserve rose rates but left the dot-plot unchanged, sort of disappointing dollar's bulls.
EUR/USD re-attempts to surge above 1.2300, but still lags Pound, commodity-linked currencies.

Valeria Bednarik FXStreet

The EUR/USD pair jumped as high as 1.2319, pulled back, and regained the upside with the press conference, now challenging the mentioned high. The advance was triggered by Fed's monetary policy decision, as the Central Bank raised rates as expected, but left the dot-plot unchanged for this 2018, meaning policymakers only foresee two more rate hikes this year. Revisions to growth were only modest and for the next year and the following one, with GDP seen unchanged from previous estimates.

As the press conference begins, dollar bears returned, but the EUR remains among the weakest currencies across the board, with commodity-related ones being the best performers alongside with the Pound, boosted earlier on the day by UK employment figures.

Fed’s Powell said that unemployment rate remained low in Feb and that gradual hikes should continue to serve the economy well.

The EUR/USD pair has a strong resistance area around 1.2370/80 where it topped multiple times these last few days, alongside with a daily descendant trend line coming from this year high. Beyond it, the next resistance comes at 1.2410, where it found a ceiling last week. Supports are the 1.2260 region, ahead of 1.2220.

View Live Chart for the EUR/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

GBP/USD tumbles to three-day lows around 1.3420

GBP/USD comes under extra selling pressure and revisits the area of multi-day lows near 1.3420 in quite a bearish start to the week. Cable’s decline comes amid the firmer Greenback as investors continue to assess developments in the US-Iran conflict. Moving forward, attention will turn to the UK employment report on Tuesday.

EUR/USD remains offered near 1.1400

EUR/USD trades on the back foot for the third day in a row and approaches the key 1.1400 threshold, or multi-day troughs, on Monday. The pair’s pullback comes amid persistent uncertainty surrounding the Middle East crisis and a solid performance of the US Dollar. Later this week, attention will turn to the ECB’s interest rate decision.

Gold puts $4,000 to the test

Gold reverses Friday’s uptick, gyrating around the key $4,000 mark per troy ounce at the beginning of the week. Escalating military action in the Middle East provides some support to the safe-haven metal, although expectations of higher US interest rates bolster the US Dollar and keeps its under the microscope.

Ethereum remains fragile underneath the surface despite outperformance

Ethereum's outperformance over the past week shows it's gaining relative strength against other top cryptocurrencies, but under the surface, key metrics indicate its rise remains fragile. Between last week and Wednesday, ETH recorded double-digit gains, outperforming fellow crypto majors Bitcoin, XRP, and Solana, before the broader market began to correct on Thursday.

Ripple Price: XRP bears retail control despite increasing retail demand

Ripple (XRP) faces sustained selling pressure as bears maintain control on Monday. The remittance token has struggled to break above the $1.10 resistance since last Thursday, as risk sentiment weighs. Demand for XRP derivatives has gradually increased since last week, with the perpetual futures Open Interest (OI) averaging 2.4 billion XRP on Monday, up from 2.13 billion XRP the previous day.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.