EUR/USD was trading higher on Wednesday with the pair testing rates above 1.1330 again. The US dollar remained on the downside on Wednesday weighed by expectations the U.S. Federal Reserve could cut interest rates some time in the next few months. Expectations for a central bank rate cut this year rose last week after a number of Fed officials, including Chairman Jerome Powell, hinted they were open to easing monetary policy. In Europe, Euro zone deputy finance ministers supported on Tuesday the European Commission’s view that disciplinary action against Italy over the country’s rising debt is warranted. Later in Europe, ECB President Mario Draghi will speak at 9:15 GMT+1, while in the US, fresh monthly inflation data will be released at 13:30 GMT+1.