Euro Weighs Down from Multiple Factors Aside From Rebound in USD


EUR/USD: The pair is trading with dovish bias as the EURO was weighed down by multiple factors aside from rebound in USD. While firm USD added some level of pressure, news of COVID-19 outbreak in Germany and the US looking at tariffs on EU goods over airline issues provided a major blow.

Concerns of the large COVID-19 outbreak in the US capped USD’s momentum helping limit decline below the 1.125 handle for now. Traders now await fresh cues and data from the USA for short term profit opportunities. 

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