The euro rose back above the key 1.29 level against the US dollar ahead of the London session on Friday, touching a 3-week high of 1.2909 around 2:30 am ET.
The euro bounce from last week's 1.2660 support entered into a proper track and the pair is expected to extend gains upto the 1.2945/50 resistance level in the near-term.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.