The Euro US Dollar (EUR/USD) exchange rate has pushed through the $1.18 level as coronavirus treatment news and vaccine optimism boost market sentiment.
Investors are shrugging off concerns surrounding the strength of the Eurozone economic recovery after weaker than forecast PMI data on Friday.
Instead the focus is on advancements in covid treatment options after the US FDA approved blood plasma treatment for hospitalised coronavirus patients. Rumours that Trump could also fast track the Oxford University vaccine candidate prior to the US elections in November is adding to the risk on mood.
The US and Eurozone economic calendars are sparse today. US Dollar investors are looking ahead to the Jackson Hole central bankers meeting later in the week.