EUR/USD was observed to print solid gains last week – having rallied by 2% last week. Factors such as US-China tension, concern over Covid19 as well as US’ failure to deliver the additional coronavirus package weighed on US last week.
Traditionally, the USD, a known global reserve draws haven bids during risk off – but this time, it has taken a beating against the EUR – more especially since the EU’s finalized fiscal stimulus as established the common currency as a safe haven.
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