EUR/USD jumps back on the bids and looks to retest the 1.1350 level amid unabated broad-based US dollar selling, as we progress towards the European opening bells, having stalled its corrective slide at 1.1275.
The overnight sell-off in the spot lost legs, as the bulls fought back control in Asia alongside the risk-off trades, in light of growing coronavirus cases worldwide and the US economic response disappointment.
Therefore, investors ramp up the US bond-buying that led to the renewed sell-off in the Treasury yields that ensued the dollar slide across the board. The US dollar index now trades 0.35% lower at session lows near 96.05 while the US benchmark 10-year Treasury yields are down nearly 11% at 0.675%.
Source : Fxstreet