Breaking: EUR/USD surges above 1.10 amid dollar weakness after horrible jobless claims
|EUR/USD has jumped over 1.10, trading at the highest levels since March 18. The world's most popular currency pair is already up around 130 pips of 1.25% on the day.
The US dollar is losing ground across the board amid horrible jobless claims numbers. Initial claims have leaped to 3.283 million, worse than at the peak of the financial crisis.
Earlier this week, the Federal Reserve unleashed an open-ended Quantitative Easing program. The US Senate later approved a $2 trillion fiscal package to mitigate the fallout from the coronavirus crisis. Stocks are on the rise, extending their advance in response to the help coming from the government.
Here is the price action on the 15-minute chart:
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