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A better market mood helped the EUR trim its post-FOMC losses.
US Treasury yields were sharply down, backing stocks’ recovery.
EUR/USD trades near May’s high with a limited bullish momentum in the near-term.
The EUR/USD pair recovered the ground lost after the Fed Meeting’s Minutes, trading by the end of Thursday around the 1.2215 level. The market shrugged off the dismal mood ever since the day started, as most Asian indexes closed in the green, leading to gains among their European and American counterparts. Government bond yields retreated from weekly highs, adding pressure on the greenback.
5/20/2021 12:48:58 PM GMT
EUR/USD Current Price: 1.2203
A better market sentiment quickly affected the dollar’s demand.
US Initial Jobless Claims contracted to 444K in the week ended May 14.
EUR/USD is struggling to extend gains, but bears have no chances.
The EUR/USD pair recovered some ground so far this Thursday, battling to extend gains beyond the 1.2200 threshold. The pair bottomed at 1.2159 on Wednesday, following the release of the latest FOMC Meeting’s Minutes, which put chances of a tighter monetary policy back on the table, spurring risk-aversion across financial markets. The mood, however, improved within Asian trading hours to stabilize during the European session.
EUR/USD Could Accelerate Its Slide On A Break Below 1 2140 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.