01.06 - Broad USD sell-off, risk-on mood underpins EUR/USD
- by George Solotarov
Following the bounce from near 1.1100 in early Asia, EUR/USD has entered a phase of consolidated near 1.1140 regions ahead of the European open, as the bulls await a fresh impetus for the next push above the 1.1150 marks.
Broad-based US dollar weakness remains the main underlying factor behind the EUR/USD uptick, as the escalating riots in the American cities continue to down the buck. Minneapolis George Flyods death’s protests escalate ahead of the curfew, with multiple fires set near the White House, undermines the sentiment around the US currency.