EUR/USD remains weak below 1.1720 on stronger USD, EU CPI eyed

• EUR/USD holds mild gains on Wednesday after the previous-day sell-off.
• US Dollar Index retreats slightly below 93.10, still elevated.
• The Euro manages to rebound following upbeat economic data.

The EUR/USD pair has been tracking minor gains in the middle of the week. The pair hovers in a very narrow trade band.

At the time of writing, the EUR/USD is trading at 1.1721, down 0.11% on the day.

The US Dollar Index (DXY), which tracks the performance of the greenback against the six majors, remains strong above 93.00.

The US dollar gains on its safe-haven appeal as investors remain fearful of the concerns of the rising coronavirus delta variant and its impact on global growth recovery amid a mixed bag of economic data.

The single currency is weighed down amid a general risk-off mood. The EU Industrial Production fell 0.3%  in June as compared to the market expectation of 0.2 drop.
 
Investors turn their attention to EU Core Inflation Rate, US Building Permits data to take trade insight. 

EUR/USD additional levels