The EUR / USD completes a 200 pip bounce and reaches the 1.19 level, rising to the highest level since March 23. The world’s most popular currency pair has benefited from several factors.
First, the EU has updated its forecast of the vaccination schedule and now he projects that immunization will reach the majority of the population by the end of June. The slow inoculation campaign of the Old Continent previously weighed on the common currency.
Secondly, US 10-year bond yields are more than 10 basis points below highs. The calm in Treasuries is weighing on the dollar.
In third place, optimism about current and future growth is boosting market confidence, which also causes the safe-haven US dollar to retreat.
President Joe Biden you’re ready to deliver a speech on your infrastructure program later in the day, and you can move it further. The minutes of the last meeting of the Federal Reserve They will also be published and may contribute to optimism.
This is what the EUR / USD on the 15-minute chart:
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