The euro is trading lower on Monday morning in the Asian trading session after a rise in U.S. dollar demand. Investors have turned toward the U.S. dollar amid the hawkish Fed’s Expectations for a 50-bps rate hike in the next month. The Dollar Index rallied further after the dovish stance of the European Central Bank. According to financial analysts, the compulsion of the ECB to end its emergency bond purchase program due to the ongoing war between Russia and Ukraine also favors the U.S. dollar. As a result of this, the EUR/USD Is trading well below the key support level at the 1.0900 mark with Multiple clinical indicators suggesting more downside in the foreseeable future.
