GOLDWELL：Daily Market Recap -EURUSD Last ditch effort before breaking below 1.175

The euro weakened on Thursday against the US dollar hitting a new low since November as traders bet on a faster recovery in the US than in Europe, hit by a new wave of Covid-19.

“But investors are instead focusing on economic forecasts, with U.S. growth expected to outpace that of other developed countries for several quarters, causing capital inflows rather than outflows,” he adds.

“The pound has suffered due to the tensions between the leaders of the UK and the EU on vaccines” which could “delay the British deconfinement plan”, comment analysts at OFX.

British Prime Minister Boris Johnson has warned against “arbitrary blockades”, his government is trying to calm tensions: in a joint statement, London and Brussels have assured to work on “specific measures” to find a “mutually beneficial solution”.

(Chart Source: Tradingview 25.03.2021)

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