von der Leyen’s comments seem to offer a much-needed boost to the euro, which drives EUR/USD higher towards 1.2030. Broad-based US dollar weakness also adds to the bounce in the major.

The spot was last seen trading at 1.2024, adding 0.18% on the day, having reversed from daily lows of 1.1993.

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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Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.