Euro futures rebounded to a 2-week high on weaker dollar.

Euro futures traded higher today, staging a clear recovery from early session selling pressure to trade near 1.1656, up approximately 20 bps. The initial weakness in the euro was driven by the release of the European Central Bank (ECB) minutes, which featured a softer tone than market participants had anticipated. However, as the session progressed, this downward pressure was fully negated. U.S. economic data releases came in largely aligned with expectations, while news regarding a potential extension of the ceasefire in the Middle East added pressure to the dollar index. This greenback weakness provided a widespread lift across major currency pairs and FX futures markets. Technically, the euro is continuing its recovery after plumbing 7-week lows last week, successfully pushing toward a 2-week high and climbing out of the lower bound of its 2-month trading range.