Breaking: EUR/USD rallies hard to reclaim 1.1500 for first time since November 2021
Source Fxstreet
EUR/USD rallies over 1% in Asian trading on Monday as the relentless selling interest in the US Dollar (USD) paves the way for the major to clear the 1.1500 threshold for the first time since November 2021.
Growing concerns over a US economic recession and the Federal Reserve’s (Fed) independence continue to exert downward pressure on the USD. Meanwhile, a lack of any progress on the trade talks between the US and the European Union (EU) also continues to act as a headwind to the Greenback, keeping the EUR/USD pair underpinned.
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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.
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