EUR/USD declines to near 1.0450 in Tuesday's European session after failing to hold above the psychological resistance of 1.0500 in the last two trading days.
The major currency pair slumps as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds after attracting bids near a two-month low and recovers to near 107.00 at the press time.
The Greenback discovers buying interest as investors weigh in expectations that the Federal Reserve (Fed) will keep interest rates in the current range of 4.25%-4.50% for a longer period.
On Monday, a slew of Fed officials stated that the monetary policy does not need to be adjusted in the current scenario.
Source: FXStreet
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