Breaking: EUR/USD rallies hard to reclaim 1.1500 for first time since November 2021

Dhwani Mehta FXStreet

EUR/USD rallies over 1% in Asian trading on Monday as the relentless selling interest in the US Dollar (USD) paves the way for the major to clear the 1.1500 threshold for the first time since November 2021.

Growing concerns over a US economic recession and the Federal Reserve’s (Fed) independence continue to exert downward pressure on the USD. Meanwhile, a lack of any progress on the trade talks between the US and the European Union (EU) also continues to act as a headwind to the Greenback, keeping the EUR/USD pair underpinned.

The US-Sino trade war escalation, with the latest tit-for-tat move by the Chinese on Boeing planes and the US’ investigation into minerals imports from China, remains a constant drag on the US Dollar, allowing EUR/USD to clinch milestones.

Looking ahead, the pair could witness exaggerated price action due to thin trading conditions on Easter Monday. Overbought conditions on the daily time frame could likely keep buyers cautious ahead of the Eurozone preliminary business PMI data slated for release in the upcoming week.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-1.01%	-0.59%	-0.99%	-0.32%	-0.29%	-0.87%	-1.05%
EUR	1.01%		0.27%	0.00%	0.65%	0.54%	0.11%	-0.06%
GBP	0.59%	-0.27%		-0.11%	0.39%	0.26%	-0.16%	-0.33%
JPY	0.99%	0.00%	0.11%		0.66%	0.57%	0.23%	-0.02%
CAD	0.32%	-0.65%	-0.39%	-0.66%		-0.09%	-0.55%	-0.70%
AUD	0.29%	-0.54%	-0.26%	-0.57%	0.09%		-0.41%	-0.59%
NZD	0.87%	-0.11%	0.16%	-0.23%	0.55%	0.41%		-0.14%
CHF	1.05%	0.06%	0.33%	0.02%	0.70%	0.59%	0.14%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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