Analyst Ipek Ozkardeskaya from Swiss Bank stated in a report that the USD has increased, recovering from the oversold state caused by the sell-off since January. She mentioned that the recent devaluation of the USD reflects the market's growing concerns about a slowdown in the USA economy and increased bets on a possible recession later this year. She noted that earlier this week, the EUR rose above 1.09 USD but failed to break through the psychological level of 1.10 USD due to being overbought. She stated that the outlook for EUR/USD remains Bullish as growth expectations in the USA and the Eurozone tend to align. However, before the EUR/USD rises to or exceeds 1.10 USD, investors may focus on developments in German fiscal policy. The EUR dropped by 0.1% to 1.0848 USD. The DXY USD index rose by 0.1% to 103.977.