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EUR/USD Recovers and Restores 1.1920 Level

M. Ali 22 June, 2021 1:50 am Forex Market, Market Update

The Euro (EUR) rose against the U.S. Dollar (USD) on Monday after falling for three consecutive sessions.

Profit-making and uncertainty about the infrastructure spending plan are weighing on the USD, with markets still digesting the change in tone by the U.S. Federal Reserve.

The EUR/USD pair gained 0.47% and reached $1.1920, remaining below the 1.20 key level.

Nevertheless, the pair recorded its biggest daily rise since May 18.

The pair remains down month-to-date by 2.51%.

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