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EUR/USD eases to 2-week low; German economy contracts 0.3% in Q2

22-Aug-25 14:38 Hrs IST

EURUSD lost traction and dropped to a two-week low tracking dollar gains abroad. The dollar index is ramping up gains on Friday ahead of Federal Reserve (Fed) Chair Jerome Powell's speech later today at Jackson Hole for further clarity on Fed's interest rate stance. The dollar index that measures the greenback against a basket of currencies is quoting at 98.64, up 0.13% on the day and at a two and half week high. Meanwhile, EURUSD is down 0.12% at $1.1613. Data from Eurozone docket showed Germany's economy contracted 0.3% qoq in Q2 2025, sharper than the preliminary estimate of a 0.1% drop and reversing the 0.3% growth seen in the previous period. On the NSE, EURINR futures are down 0.12% at 101.60.

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