Euro widens gains to two-week high as US treasury yields plummet
EUR/USD rose in European trade for the fifth straight session to two-week highs as US treasury yields plummeted while the German Government considers more stimulus measures for the European economy.
EUR/USD rose 0.6% to 1.0945, the highest since February 10, with an intraday high at 1.0881.
EUR/USD inched up yesterday in the fourth straight profit on strong prospects for a Fed rate cut in June.
The dollar index fell 0.5% on Thursday for the fifth straight session to two-week lows at 98.67, as US treasury yields hit record lows at 1.297.
The rapid spread of the coronavirus across the world is hurting global sentiment and raising bets on a US rate cut to bolster the economy.
Financial futures now indicate a 100% probability for a Fed rate cut in June, compared to just 50% a week ago.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.0809
|
-0.0326
|
2.9264%
|
|
|
|
|
1.2267
|
-0.0188
|
1.5090%
|
|
|
|
Tadawul
|
6752.19
|
2.50
|
0.04%
|
|
|
|
|
14.417
|
-0.029
|
0.201%
|
|
|
|
|
28.815
|
6.987
|
32.012%
|
|
|
|
|
34.94
|
5.00
|
16.70%
|
|
|
|
|
1620.000
|
-0.150
|
0.009%
|
|
