EUR/USD Price Forecast: At make or a break near 1.1350

The Euro (EUR) is trading marginally lower at around 1.1375 against the US Dollar (USD) in early European trading on Friday, but remains inside Thursday's trading range. The major currency pair is facing downward pressure as the US Dollar (USD) continues to outperform across the board. The US Dollar Index (DXY), which measures the Greenback's value against six major currencies, is near its eight-week high of 101.40 set on Thursday.

Experts anticipate further strength for the US Dollar as Federal Reserve (Fed) officials have indicated a hawkish monetary policy stance and highlighted robust economic growth. Strategists at Brown Brothers Harriman note that the USD is "powering forward against most major currencies," supported by a hawkish Fed outlook and heightened US economic outperformance.

Fed Governor Michael Barr warned that "further policy adjustments are likely required to bring inflation down to target in a timely fashion," suggesting potential further tightening. New York Fed President John Williams added that the US economy is displaying "remarkable resilience," with inflation remaining the "big challenge" and another rate hike possible by the end of the year.

These comments bolster the case for continued Fed rate hikes, providing a favorable backdrop for the Dollar's strength.