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Euro Hits 8-Week Highs on Investor Optimism, Later Falls Then Rallies

The euro today rallied to new 8-week highs against the US dollar as the bullish sentiment carried over from yesterday’s rally before reversing course and heading lower. The EUR/USD currency pair later fell amid fears of an escalation in US-China trade tensions that could trigger a new trade war before reversing course and heading higher.

Euro Rallies on Bullish Sentiment, Mixed Eurozone Inflation Data

The euro today rallied higher against the US dollar driven by positive investor sentiment even as the greenback registered losses across the board. The EUR/USD currency pair rallied higher ignoring the weak eurozone inflation data released earlier today as investors bid up riskier assets.

Euro Rallies on Investor Sentiment Amid European Reopening Efforts

The euro today rallied higher against the US dollar driven by positive investor sentiment as European countries cautiously move forward with the reopening of their economies. The EUR/USD currency pair today benefitted from the greenback’s overall weakness recouping yesterday’s losses and printing new weekly highs.

Pound Rallies on Bullish Sentiment Despite Rising UK COVID-19 Cases

The Sterling pound today rallied higher against the US dollar despite the current lockdown in the UK amid rising coronavirus cases as opposed to other European countries. The GBP/USD currency pair today rallied higher as the dollar retreated driven by the risk-on market sentiment as Boris Johnson prepares to host a cabinet meeting today.

Australian Dollar Falls Then Recovers Driven by Investor Sentiment

The Australian dollar today fell against the US dollar before recovering to trade at breakeven driven by positive investor sentiment and news events. The AUD/USD currency pair today rallied higher as investors bought the Aussie ahead of a gradual reopening of Australia’s economy.

Canadian Dollar Posts Gains as Oil Recovers and Trades Sideways

The Canadian dollar today extended its winning streak against the US dollar as the recovery in crude oil prices saw the US crude oil trading sideways in a tight range. The USD/CAD currency pair fell for the third consecutive session as crude oil prices recovered strongly from Monday’s crash despite concerns about global demand for the commodity.

Pound Rallies Despite Negative UK PMIs and High COVID-19 Cases

The British pound today rallied higher against the US dollar despite the release of disappointing UK PMI data by Markit/CIPS as traders remained bullish on the pound. The GBP/USD currency pair alternated between gains and losses as traders fought for control at a critical resistance level ignoring the fundamentals.

Pound Falls on Bearish Sentiment as UK to Test COVID-19 Vaccine

The Sterling pound today fell against the US dollar as investor sentiment remained decidedly bearish amid news that the UK was developing a COVID-19 vaccine. The GBP/USD currency pair fell despite the release of upbeat UK jobs data as investor risk appetite evaporated pushing the pair lower into negative territory.

Euro Rallies on Reports of COVID-19 Cure and In-Line Eurozone CPI

The euro today rallied higher against the US dollar driven by bullish investor sentiment amid hopes that a cure for the coronavirus was on the horizon. The EUR/USD currency pair initially fell as the greenback rallied before changing course and surging higher as risk-appetite improved.

Euro Extends Decline Amid Fears of a Looming Recession in the EU

The euro today fell against the US dollar as market sentiment remained decisively risk-averse amid fears that the eurozone was facing an imminent recession. The EUR/USD currency pair fell for the second consecutive session despite the release of upbeat data from Germany and the euro area, which did little for the pair.

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