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EUR/USD Hits 23-Month Highs

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EUR/USD hits a 23-month highs at 1.1760, as the coronavirus remained in focus, with a new wave emerging in Asia. The last time this pair was seen at this level in September 2018.

The sharp move up has largely triggered by dollar-selling, as the Dollar index is under heavy pressure and fall to new lows near 93.60.

In the calendar, the IFO Survey showed the German Business Climate improved more than estimated at 90.5 in June, Further data saw the ECB’s Private Sector Loans expanded 3.0% in June from a year earlier, while the M3 Mone Supply expanded at an annualized 9.2% during the same period.

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