EUR/USD, EUR/JPY: Hawkish Fed Weighs on Euro as Yen Bulls Struggle

The Fed's increasingly hawkish outlook is weighing on EUR/USD as markets price further US rate hikes, while the ECB faces a difficult inflation-growth trade-off. Yet the euro is not uniformly weak, with EUR/JPY's bullish wedge breakout presenting a potential recovery towards 181.50, even as the broader trend remains vulnerable.