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The buying bias around the EUR against the US dollar remains around 1.2100 for the time being. EUR/USD is floating in the area of multi-day highs around 1.2100 on improving sentiment and risk trends.
Actually, with additional support from President Biden’s plan to inject more stimulus into the economy, while the expected strong recovery in the global economy adds to the pair’s momentum.
The daily downward trend in US 10-year bond yields was putting the USD under additional pressure and adding to the EUR/USD rebound.
Earlier on the European calendar, Germany’s trade surplus improved to 16.1 billion euros in December as Lagarde repeated the European Central Bank’s loose stance amid the continued lack of upside in inflation in the region later Tuesday.
