EUR/USD restores parity despite dovish remarks by ECB officials

The EUR/USD pair is seesawing around parity after mixed ECB official signals. The positive US Retail Sales confirms the case of the Fed’s going for a 75 bps interest hike.

ECB official Mario Centeno expressed that the central bank should take “as small steps as possible.” The EUR/USD is positive in the day for the second-straight day but faces solid resistance around the parity on woes of a large US Federal Reserve rate hike, spurring a jump in US Treasury bond yields. However, the shared currency remains resilient, though slightly up by 0.19%, amidst a risk-off environment.

During the day, the EUR/USD began trading at around 0.9980, sliding toward the daily low at 0.9955 in the early European session. However, fresh bids lifted the shared currency towards hitting the daily high at 1.0018 before settling at the current spot price. At the time of writing, the EUR/USD is trading at 1.0002.