After a losing week, the Euro begins to rise versus the dollar.

This morning, the European currency rose to levels above $1.08, for the second consecutive day.

Today, the EUR/USD exchange rate is rising, extending its gains from Monday. Traders and forex speculators appear optimistic about the broader market situation, as the dollar is falling across the board and alternative currencies dominate transaction activity.

Since mid-March, the euro's short-term upward momentum has been in the works. However, jitters in the banking sector prompted investors to seek refuge in the US dollar. The EUR/USD fell to levels just above $1.07 last week after climbing for several consecutive days.

In the near future, market participants will anticipate the Fed's preferred measure of inflation. Core PCE, which stands for price consumption expenditure, is anticipated to reveal that price pressures in February fell to 0.4% from 0.6% in January.