Coronavirus ‘Second Wave’ Could Mean More Losses for Euro to US Dollar Exchange Rate

The Euro to US Dollar (EUR/USD) exchange rate saw its worst week in months last week. While the losses were actually quite modest overall, it was still the best performance the US Dollar (USD) has seen in some time.

After opening last week at the level of 1.1256, EUR/USD briefly jumped higher. This move higher was short-lived though, and EUR/USD trended lower for the remainder of the week.

On Friday, EUR/USD touched on lows of 1.1191 – the worst levels since the beginning of the month. While EUR/USD was able to recover slightly from these lows before markets closed, the US Dollar (USD) has certainly been performing more strongly in recent sessions.

If the US Dollar continues to strengthen, the Euro to US Dollar’s strong streak may have come to an end for now.

Source: https://tinyurl.com/ybjcy6js

This article was originally published on euroexchangeratenews.co.uk

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