EURUSD is undertaking attempts to recover, which may end in failure.
On Monday afternoon, the major currency pair is trying to recover losses but looking rather unimpressive so far. The current quote for the instrument is 1.,1882.
At the same time, the USD is feeling pretty confident after the comments and decisions of the American Federal Reserve System at the end of its March meeting. On top of that, the US bond yield continues rising, thus providing serious support to the “greenback”.
Another thing in favor of the USD was the Fed’s announcement last Friday that it decided not to extend the SLR break after March 31st, 2021. The supplementary leverage ratio was initially introduced to stimulate bank lending but the regulator believes there is no need for it anymore. Investors took these words as a signal that the banking sector is pretty close to reaching stability and that was good for the USD.
The Euro, in its turn, is looking rather weak due to the stoppage of the anti-coronavirus vaccination with AstraZeneca in Europe. There is nothing wrong with the medication but the production problems scared investors because they may result in the extension of lockdowns in Europe. Social restrictions prevent European economies from recovering because consumers are lockлed at home, and that’s very negative for the European currency.
Orgin: RoboForex
