Forex Signals – Forex – Euro Eases From Highs – The euro pared most of its gains against the dollar on Tuesday, despite cautious optimism over the coronavirus relief package, which experts say could deliver a boost to the single currency.
EUR/USD rose 0.14% to $1.0928, after easing from session highs of $1.0976.
France and Germany on Monday proposed a $500 billion coronavirus relief program to support an economic recovery in the EU. The stimulus proposal would be raised through bonds and is based on grants rather loans.
“EUR/USD is now looking to run the key 1.1000 level after the Germans and the French put forth a proposal for 500 billion euro rescue package that was based on grants rather than loans,” BK Asset Management | Forex Signals – Forex – Euro Eases From Highs.
The euro’s retracement from the highs of the day come even as Germany’s ZEW index rose for the second straight month.