The buying bias surrounding the single currency remains well and sound for yet another session on Thursday, lifting EUR/USD to fresh tops in the 1.1600 neighborhood.
After briefly trespassing the 1.16 yardstick on Wednesday, EUR/USD sparked a knee-jerk to the 1.1580 region, where it is now trying to consolidate. It is worth recalling that these levels were last seen in October 2018. As usual in past weeks, the persistent bearish view in the dollar remains the exclusive catalyst of the pair’s rally from mid-June’s lows in the 1.1165/70 band to Wednesday’s peaks just beyond 1.16 the figure, gaining nearly 4% in five weeks.
