- The dollar continues downhill and the DXY falls towards 90.50.
- EUR / USD went up for the third day in a row, accumulating 200 pips of profit so far this week.
The EUR / USD is trading at 1.2165, the highest level since April 2018. In the last hour it broke the previous highs, before a new bearish leg of the dollar throughout the market. The greenback continues to decline due to an advance in the equity markets and despite the rise in the yields of Treasury bonds.
Strong fall in the dollar explains the rally of the EUR / USD
The futures of the main Wall Street indices point to an open with modest gains, but reflecting a strong rebound from the bottom of Wednesday. Optimism for the vaccine remains highly supportive.
It was known that the requests for unemployment benefits in the US fell more than expected last week, but the figures still reflect very high levels in historical comparison. In this context, legislators continue to seek the introduction of more fiscal stimuli, which for now, would be unlikely to be applied in the short term for political reasons.
The dollar index (DXY) is trading at the lowest since April 2018, near 90.50 and begins to target the support of 90.00, which protects the 2018 floor at 88.20. The dollar even fell against the yen on Thursday, reflecting that the driver of the movements is not primarily risk appetite, but the weakness of the dollar.
Technical levels
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