Share: The ECB could start reducing its bond purchases during the summer. US unemployment claims unexpectedly surged in the week ended April 2. EUR/USD has room to extend its advance beyond the 1.2000 mark. The American dollar was once again the weakest, resulting in EUR/USD reaching a fresh two-week high at 1.1927. The greenback accelerated its decline as US Federal Reserve chief Jerome Powell spoke in an IMF seminar. Powell didn’t add much new to what the market already knew, but his dovish words put pressure on Treasury yields, which remain at the lower end of their weekly range. On the other hand, Robert Holzmann, Austrian Central Bank Governor, said that the European Central Bank might be able to start reducing its bond purchases during the summer, providing support to the shared currency.