- EUR/USD extends selloff to 1.2090
- Risk aversion dominates
- US data releases are a mixed bag on Friday.
The euro trades in the red at the end of the week, sending EUR/USD to recede to weekly and yearly lowsunder1.2100 .
EUR/USD weaker on USD-buying
EUR/USD selloff has gained momentum and tests 1.2100 a new 2021 lows, amid persistent buying of the buck.
Easing US yields and President-elect Joe Biden’s announcement of a $1.9 trillion stimulus package didn’t dampen dollar demand. The US Dollar index is closing in on its yearly high of 90.70.
US Retail Sales, Producer Prices, the U-Mich index and the Empire State index all came in short of expectations hitting risk sentiment. Meanwhile Capacity Utilization, Industrial and Manufacturing Production all surprised to the upside.
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