Is This A Bad Sign For The Euro? - Kakiforex | Forex markets for the smart money. Is This A Bad Sign For The Euro? Is This A Bad Sign For The Euro?

March 29, 2021

Is This A Bad Sign For The Euro?

 The start of trading earlier in the week saw the US dollar resume gains to trade stronger against most major currencies, particularly the euro and yen.

The strength of the U.S. economic recovery and the faster launch of vaccines from Europe, continue to push investors to earn greenback dollars.

The euro traded gloomily around 1.17750, not far from the four -and -a -half -month low it reached last week against the US dollar.

The market continues to be plagued by concerns over a resurgence of coronavirus cases in Europe, where most recently, health officials in France warned that they may have to choose between which patients receive emergency treatment.

Meanwhile in Germany, Chancellor Angela Merkel said the country needed a curfew and may need to use Federal law to tighten sanctions.

The yen, which is sensitive to a 10 -year rise in U.S. treasury yields that has risen 0.76% this year, continued to trade weak around a 9 -month low against the U.S. dollar.

The dollar index was strong at 92.80 and remained stable against the Aussie dollar, kiwi and pound sterling after recording declines on Friday that may have caused the market to take profits ahead of the weekend.