- EUR/USD continues to selloff near 1.2100.
- ECB’s Minutes reveal concerns over exchange rate and inflation.
- US Initial Jobless Claims hit multi-month highs at almost 1M.
Euro comes under further selling pressure pushing EUR/USD towards key support at 1.21.
EUR/USD offered on risk-off mood
EUR/USD extends losses for second straight session in risk-off trades even ahead of an imminent announcement of further US fiscal stimulus.
The minutes from the latest ECB meeting showed growing concern over the exchange rate and lack of inflation along poor growth prospects.
German GDP is expected to have contracted 5% during 2020. In the US, Initial Claims rose 965K a level last seen in August.