5/20/2021 1:49:02 PM GMT | By Pablo Piovano
EUR/USD picks-up extra pace beyond 1.2200.
The greenback loses further momentum and lifts the pair.
US Initial Claims rose by 444K, Philly Index came in at 31.5.
The optimism has returned to the single currency and now pushes
EUR/USD back above 1.2200 the figure, clinching at the same time new daily highs.
EUR/USD in recovery-mode
EUR/USD continues to reverse Wednesday’s retracement and it has already regained the 1.2200 mark in a context dominated by investors’ appetite for the riskier assets, while US yields extend the corrective downside after recent tops.
The pair, along with the rest of the riskier assets, manages to leave behind the post-FOMC bearish note and resumes the rally, which remains well in place since the beginning of April.