EUR/USD has been rising amid hope for turning a corner in the old continent’s battle with coronavirus. Additional disease headlines, fiscal stimulus, and coronabonds are eyed, FXStreet’s analyst Yohay Elam briefs.
Key quotes
“Stock markets are on the rise around the world and the safe-haven US dollar is on the back foot. Markets are also encouraged by signs of a slowdown in new cases in New York and by talk of another US fiscal stimulus package.”
“The common currency’s advance is somewhat limited by ongoing disagreements over ‘coronabonds.’ Germany and several other countries continue refusing to mutualize the debt in order to support the worst-hit countries.”
“The Eurogroup meet today and will try to hammer out a deal. German Chancellor Angela Merkel said that this is the EU’s most difficult moment and the longer countries remain at loggerheads, the more the euro could suffer.”
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