EUR/USD rebounds from 2-year low as European Parliament's elections ended

Euro fluctuated higher in a tight range against a basket of global currencies during the Asian session, to rebound for the third consecutive session from its lowest since May 19th, 2017 against the US dollar. Amid a lack of economic data by the Euro-zone economies this week and with absence of the US market on Monday due to the Memorial Day holiday in the United States.

As of 05:27 GMT, EUR/USD rose 0.07%, trading at $1.1211, from the opening price of $1.1199, with the highest at $1.1215, and the lowest at $1.1190. Bearing in mind that the pair closed last week trading at $1.1203 before opening the current week with a bearish price gap.

We have followed the end of the European Parliament elections on 751 seats yesterday, which is expected to have its first meeting right after the disclosure of the results of the elections formally later on July 2nd, amid preliminary results showing that the parties that were demanding restrictions on immigrants to the EU and limiting the EU's influence on the European countries has not made any progress.