The optimism around the European currency – and the risk complex in general – remains well and sound on Friday and now lifts EUR/USD to the 1.0665/70 band, or 2-day highs at the end of the week.
EUR/USD stronger on USD-selling, risk appetite improvement
EUR/USD advances for the second session in a row and keeps the upbeat tone well in place in the second half of the week against the backdrop of a firmer recovery in the appetite for the risk-associated assets.
Indeed, recent positive news surrounding the US and European banking sectors helped mitigate concerns over a potential banking crisis, putting to rest at the same time bouts of risk aversion.
Following Thursday’s hike by the ECB, Board member Simkus suggested that the terminal rate has not been reached yet, while his colleague Villeroy noted that inflation in the euro area should be around 3% at some point by year end.
Later in the domestic calendar comes the final inflation figures in the Euroland, whereas Industrial Production, Manufacturing Production, the CB Leading Index and the preliminary Michigan Consumer Sentiment are all due across the Atlantic.
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