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USD Retains Strength

US markets were closed due to the Thanksgiving holiday. Markets will work shortened hours on Friday, and muted trading is expected to continue.

The bullish dollar’s momentum took a breather, but it was able to maintain its leadership. The EUR/USD pair surged to 1.1229, ending the day just above the 1.1200 figure. The coronavirus is taking its toll on the region, spurring concerns about the economic recovery.

A number of Eastern European countries opted for strict lockdowns, while France announced on Thursday booster shots, refraining from imposing restrictions.

Portugal declared a state of disaster and announced new restrictions due to the rise in cases, while Germany is expected to announce a decision on the matter on Friday, as cases in the country stand at record highs.

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