The single currency appears to have left behind part of the recent pessimism and is now lifting EUR/USD to new daily highs in the vicinity of 1.1270, although losing some momentum afterward. After three consecutive daily pullbacks, EUR/USD has opened Monday’s session with decent gains well above the 1.1200 mark amidst some correction in the greenback.
Investors, in the meantime, continue to gauge the pace of the economic recovery in the Old Continent vs. the recent pick-up in coronavirus cases and some encouraging results from fundamentals in the euro region. Against this backdrop, a cautious tone and alternating risk appetite trends appear to be dominating the global trade for the time being.