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Felicia Tan
in
Forex
June 4 12:52

Euro rises against US dollar

EUR is on its way to the longest winning streak against USD since 2013. 
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Euro is almost back to the level seen earlier this year despite the huge appreciation of the US dollar during the March market volatility as covid pandemic was spreading around the world.

On Wednesday afternoon, the euro rose by 0.2% to 1.1193 dollars - an 11-week high as the dollar continues to depreciate against most currencies amid the widespread improvement in investor sentiment towards risk assets.
The depreciation of the dollar in recent days has been fuelled by both optimism about the opening of Western economies after a prolonged quarantine imposed to stop the spread of coronavirus, and evidence that the spread of infection is fading, as well as expectations of further monetary stimulus measures from central banks.