The EUR/USD pair rose as weak U.S. inflation data impacted the dollar, with expectations of a Fed easing policy stance influencing market sentiment.
The U.S. Dollar Index fell below 105.00 after disappointing CPI and Retail Sales data, while expectations of a Fed rate cut in September maintained downward pressure on the USD.
Fed Chair Powell's remarks at a foreign bankers' meeting reinforced expectations of a longer period of restrictive policy to curb inflation, influencing investor sentiment.
Market sentiment remains positive for a Fed rate cut in September, reflected in the EUR/USD pair breaking resistance levels, while S&P 500 futures held near all-time highs.
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