The single currency regains the smile and lifts EUR/USD back to the area beyond 1.1900 yardstick on turnaround Tuesday.
EUR/USD reverses four consecutive daily pullbacks and manages to reclaim the positive territory as well as the 1.1900 hurdle against the backdrop of renewed selling pressure in the greenback.
In fact, the dollar sees its upside momentum somewhat mitigated after hitting new YTD highs in the 92.50 area when tracked by the US Dollar Index (DXY) earlier on turnaround Tuesday, all in response to a corrective downside in the US yields. In the broader scenario, the vaccine rollout and its impact on growth prospects in the global economy continue to drive investors’ sentiment albeit relegated to a secondary role by the performance of the bonds market.