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.