Breaking: EUR/USD slumps under 1.0800 after traders pare back on ECB tightening bets following dovish meeting

EUR/USD slipped below a key area of support in the form of the March lows at 1.0806 in recent trade and has subsequently gone on to slide under the psychologically important 1.0800 level for the first time since May 2020. At current levels around 1.0790, the pair is trading with on the day losses of around 0.9%, having reversed more than 1.30 pips lower (or 1.2%) from earlier session highs in the 1.0920s.