EUR/USD Exchange Rate Down as Safe Haven US Dollar Continues to Climb
Concerns about the coronavirus pandemic’s worsening impact on major economies has caused the Euro to US Dollar (EUR/USD) exchange rate to tumble in recent weeks. Despite a lack of fresh surprises, the US Dollar (USD) continues to benefit from risk-aversion today.
Last week’s US Dollar rebound pushed EUR/USD down from the level of 1.2220 to the level of 1.2075 throughout the week – a loss of around a cent and a half.
Since markets opened this morning, EUR/USD has only continued to slide, though its losses are more modest.