EUR/USD holds above 1.0800

By FXStreet FXStreet (Córdoba) – EUR/USD is consolidating modest losses on Friday and remains near the lows, but still holding the line above 1.0800. The pair bottomed at 1.0792 but quickly rose back above 1.0800.

During the last hours, it has remained steady hovering between the 20-hour moving average that stands at 1.0835 and 1.0800, about to end the week with a decline of a hundred pips from the level it had seven days ago.

EUR/USD unable to benefit from a weak US dollar

The pair was unable to rally despite the weak US Dollar. The euro was still affected in the market by yesterday’s signals from the European Central Bank that more easing was likely at the March meeting.

Today risk appetite weakened the US dollar but did not boost the EUR/USD. The euro also continues to have a negative correlation with stocks. In Wall Street main indexes were raising (but moved off highs during the last hour) while European markets ended the day with gains between 2 and 3%. The rally of the last two days in equities, erased most of the weekly losses.
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Source:: FX Street