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EUR/USD remains on the back foot, approaching 1.0900, amid intensifying tensions between the US and China. The ECB’s meeting minutes are also eyed, FXStreet’s analyst Yohay Elam informs.

Key quotes

“The new security law that tightens China’s group over Hong Kong angered citizens of the financial hub, which are set to demonstrate in droves over the weekend. It also angered American lawmakers. Both countries have also been clashing over coronavirus.”

“Investors seemed to ignore rising unemployment in America, as both initial jobless claims and continuing ones came out worse than expected.” 

“The ECB releases its meeting minutes later on Friday. The document may shed some light on deliberations regarding adding more stimulus.”