The EUR/USD price continued rising even as several Fed officials insisted that the bank was not done raising interest rates.
The EUR/USD pair continued rising as traders came to terms with last Friday’s soft jobs numbers. In a report, the Bureau of Labor Statistics showed that the economy added over 209k jobs in June, lower than the median estimate of 230k.
In a separate statement, Atlanta’s Raphael Bostic, warned that inflation was still too high even though the trajectory is in the right direction. Loretta Mester of Cleveland Fed had the same sentiment, saying: These statements came two days ahead of the upcoming US consumer inflation data. Economists polled by Reuters expect the data to reveal that US inflation remained above the Fed’s target of 2%.
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