- Greenback holds on to gains but moves off highs, DXY up 0.60%.
- EUR/USD rebounds to 1.0920 and back above the 20-day moving average.
- Germany to begin reopening its economy on Monday, Merkel says.
The EUR/USD pair erased half of the daily losses and is back above 1.0900. Earlier on Wednesday, it bottomed at 1.0855, the lowest level since April 9. It is trading at 1.0921, at session highs. The move off lows took place amid a retreat of the greenback across the board.
The US dollar is still holding on to gains, after many days of consecutive losses. The DXY is 0.65%, hovering around 99.50, after trading slightly below 100.00 hours ago. The decline in US yields did not curb USD strength. The 10-year yield fell to 0.62%, the lowest since April 6. In Wall Street, main indexes are falling around 2%.
The return of risk aversion boosted the greenback across the board. Economic data from the US came in worst than expected, but market participants ignored it. The US dollar continues to be the key driver.
The euro is rising against emerging market and commodity currencies but versus the Swiss franc is it trading at the lowest since March 23 and near the multi-year set last month at 1.0520.
EUR/USD Levels
Share
