{
  "id": 2302004,
  "title": "Euro sits near multi-month top vs weak USD as bulls await move beyond 1.1700 ahead of PMIs",
  "url": "https://urgent.news/2026/08/21/euro-sits-near-multi-month-top-vs-weak-usd-as-bulls-await-move-beyond",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T04:39:29.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/euro-sits-near-multi-month-top-vs-weak-usd-as-bulls-await-move-beyond-11700-ahead-of-pmis-202608210439"
  },
  "original_language": "en",
  "account": "The EUR/USD currency pair has reached a multi-month high against the weak US dollar, with traders anticipating a move beyond the 1.1700 mark ahead of the release of Purchasing Managers' Index (PMI) data for both the Eurozone and the United States. Despite dips in the pair's price, it remains on track for substantial weekly gains and an ongoing uptrend amid a generally weaker US Dollar. The EU's gas storage situation and expectations of energy-driven inflation are bolstering the euro, as the European Central Bank may adopt a more hawkish stance. The potential for tighter European electricity prices due to insufficient gas inflows adds pressure on the euro. Meanwhile, the US Treasury Department's plan to double the size of certain long-dated debt buyback operations has seen diminishing initial market impact. Geopolitical factors, such as the US-Iran standoff, may also contribute to holding back USD bears and limiting losses for the safe-haven greenback. Traders will be monitoring the flash PMI releases from the Eurozone and the US to gain further momentum, while the EUR/USD pair maintains a bullish near-term outlook above key technical support levels.",
  "summary": "The EUR/USD pair attracts some dip-buyers during the Asian session on Friday and climbs back closer to its highest level since May 14, set the previous day, with bulls now awaiting a move beyond the 1.1700 mark before placing fresh bets.",
  "key_points": [
    "Euro near multi-month high vs weak USD",
    "Traders await move beyond 1.1700 mark",
    "PMI data release for Eurozone and US expected"
  ],
  "editors_take": "The euro's gains against a weak US dollar reflect expectations that the European Central Bank may adopt a more hawkish stance due to energy-driven inflation and tight European electricity prices.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}