EUR/USD went into a consolidation phase after closing the previous week in negative territory.
EUR/USD fluctuates in a narrow range slightly below 1.0900 on Monday. Improving risk mood could help the pair hold its ground. The Fed will announce policy decisions on Wednesday. The pair stays relatively quiet slightly below 1.0900 in the European morning. The broad-based US Dollar strength last week forced EUR/USD to stretch lower.
It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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