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Why EUR/USD is Rallying… and What Could Cause it to Stop
Stop me if you’ve heard this one before, but the euro is the strongest major currency on the day despite the accelerating spread of coronavirus on the continent. Assuming we close anywhere near where we’re currently trading, this would mark the seventh consecutive rally in EUR/USD, which has tacked on more than 300 pips in that time. So what’s driving the euro higher against its major rivals? It’s certainly not the economy, which remains mired in a slow growth, high unemployment state, despite negative interest rates and aggressive asset purchases. Instead, the euro is rising on the exact same dynamic that ... (full story)
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