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

> EUR/USD is under pressure as markets price further US rate hikes after stronger-than-expected US CPI and solid October payrolls. The ECB is seen as more cautious, with a possible December hike followed by a pause. EUR/JPY shows a bullish wedge breakout that points to a possible move toward 181.50.

- Date: 2026-11-11 · published 2026-11-12T00:12:27.516Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/94402-eur-usd-eur-jpy-hawkish-fed-weighs-on-euro-as-yen-bulls-struggle
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A stronger dollar and rate divergence weigh on the euro, which can make US-priced feed commodities and dollar-denominated imports relatively cheaper for dollar-based buyers outside the eurozone.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-17 | [Global Markets: Tech shares buck trend as hawkish Fed weighs on global stock markets \| Reuters](https://feedsoft.ai/events/46776-global-markets-tech-shares-buck-trend-as-hawkish-fed-weighs-on-global-stock.md) | +1.1% | +1.7% |
| DXY | 2024-06-13 | [EUR/USD declines as the Fed's hawkish narrative outweighs soft US CPI and PPI report](https://feedsoft.ai/events/29982-eur-usd-declines-as-the-fed-s-hawkish-narrative-outweighs-soft-us-cpi-and-ppi.md) | +0.3% | -1.1% |
| DXY | 2026-06-19 | [Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside](https://feedsoft.ai/events/11518-euro-steadies-as-the-us-dollar-eases-but-hawkish-fed-bets-limit-upside.md) | +0.4% | +0.1% |
| DXY | 2022-08-31 | [Yen JPY USD Falls to 24-Year Low as US-Japan Policy Gap Weighs - Bloomberg](https://feedsoft.ai/events/40265-yen-jpy-usd-falls-to-24-year-low-as-us-japan-policy-gap-weighs-bloomberg.md) | +0.9% | +3.6% |
| DXY | 2026-09-24 | [Japanese Yen struggles as Fed rate hike bets drive US yields higher](https://feedsoft.ai/events/17708-japanese-yen-struggles-as-fed-rate-hike-bets-drive-us-yields-higher.md) | +0.7% | +1.0% |
| EURUSD | 2024-06-13 | [EUR/USD declines as the Fed's hawkish narrative outweighs soft US CPI and PPI report](https://feedsoft.ai/events/29982-eur-usd-declines-as-the-fed-s-hawkish-narrative-outweighs-soft-us-cpi-and-ppi.md) | -1.2% | +0.5% |
| EURUSD | 2021-06-17 | [Pound-to-Euro Rate Lifts to 1.17 after EUR/USD Sinks on Fed's 'Hawkish' Message](https://feedsoft.ai/events/6134-pound-to-euro-rate-lifts-to-1-17-after-eur-usd-sinks-on-fed-s-hawkish-message.md) | -1.4% | -2.6% |
| EURUSD | 2026-06-19 | [Euro steadies as the US Dollar eases, but hawkish Fed bets limit upside](https://feedsoft.ai/events/11518-euro-steadies-as-the-us-dollar-eases-but-hawkish-fed-bets-limit-upside.md) | -0.6% | -0.5% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/eur-usd-eur-jpy-hawkish-fed-weighs-on-euro-as-yen-bulls-struggle/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.