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EUR/USD Holds Above 1.1630, Rallies Capped Below Wednesday Highs Ahead of ECB

EUR/USD holds above 1.1630 with rallies capped below Wednesday’s ~1.1654 highs ahead of the ECB. Deposit hike consensus 2.50% from 2.25%; Germany final HICP in line.

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Sep 10, 2026 · 1h ago
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EUR/USD Holds Above 1.1630, Rallies Capped Below Wednesday Highs Ahead of ECB

The Euro edged higher against the US Dollar on Thursday but stayed capped below Wednesday’s highs ahead of the ECB decision.

Price stamp

EUR/USD holds above 1.1630 with rallies capped below Wednesday’s highs at 1.1654 / the 1.1650 area so far. Risk-off sentiment amid high oil prices and surging global yields is likely to keep rallies subdued.

ECB / Germany HICP

The ECB is widely expected to hike for the second time this year, bringing the deposit facility rate to 2.5% from 2.25%; the main focus is President Lagarde’s press conference. Germany’s final HICP confirmed preliminary figures — 0.2% month-on-month and 2.9% year-over-year in August (from 0.9% and 2.8% in July), in line; impact on the Euro marginal.

USD / softs

The Dollar sits on its back foot — debasement trade, disappointment over the Treasury bond buyback program, USD/JPY carry-trade unwinding, and concerns about US government debt. Soft prior Treasury enlarged buyback and GBP/USD ~1.3555.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.

Written and fact-checked with AI assistance, reviewed by a human editor before publication.

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