The Euro gained almost 0.5% versus the Dollar yesterday with that positive momentum continuing into Thursday for now at least. Market sentiment has improved this week, with more appetite for risk driven by news pointing at the progressive lifting of lockdown measures across the world, as well as a recovery in oil prices.
The Euro itself is being supported by expectation that later today the ECB will announce the expansion of its asset purchase program to include junk bonds. Such a measure will be good news for the single currency as it will help alleviate the pressure on the borrowing costs for southern European countries at a time of growing tension between the member nations.
