Euro widens gains to two-week high as US treasury yields plummet

2020-02-27 09:54:03 GMT (Economies.com)
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%
 
 
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