EUR/USD fell 0.3% to 1.1198, falling back 1.1276, the highest since Feb. 2022, that the pair hit during the previous session.
The final reading of the June eurozone CPI is also due later in the session and is expected to confirm that inflation rose 5.5% on the year last month, a drop from 6.1% the prior month.
The European Central Bank is widely expected to increase interest rates once more when it meets next week, but the single currency has weakened after a known ECB hawk opened the possibility of the central bank pausing its rate-hiking cycle debate after July.
“For July it is a necessity,” governing council member Klaas Knot, a known hawk, said in an interview on Tuesday, regarding interest rate increases, “for anything beyond July it would at most be a possibility, but by no means a certainty.”
