Forex

Euro maintains gains against dollar as US treasury yields tumble

2020-08-05 08:00:51 GMT (Economies.com)

EUR/USD rose for another session to near 26-month highs as the greenback continues its decline as US treasury yields hit four-month lows. 

 

EUR/USD rose 0.2% to 1.1822, after closing up 0.35% yesterday, the first profit in three days. 

 

Euro rallied to a 26-month peak last Friday at 1.1908, marking a monthly 5% profit, the third in a row and the largest since September 2010. 

 

Euro's largest monthly profit in a decade came after a massive financial rescue bill from EU leaders to counter Covid 19 impact. 

 

The dollar index fell 0.1% on Wednesday, the second loss in a row as 10-year US treasury yields fell to four-month lows at 0.505%. 

 

Covid 19 continues to ravage the US while Democratic-Republican political divisions continue to hurt sentiment. 

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