Europe’s Virus Response Has Put the Euro in a Win-Win Situation
- Common currency nears close above 200-weekly moving average
- Betting the euro will rise against dollar is now more costly
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Regardless of what the spread of the coronavirus does to demand for risk, market indicators suggest the euro will rise.
The common currency is inching toward a close above its 200-week average for the first time in a year. A convincing break would be the latest in a string of signals from traders that the momentum behind the euro’s third monthly advance -- for the first time in more than two years -- is growing.