Both the dollar and yen softened, while the dollar bloc outperformed the other main free floating currencies amid a bout of risk-back-on positioning in global markets, fuelled by positive news about U.S. President Trump’s health condition. EUR-USD traded firmer, printing a peak at 1.1760, which is 10 pips short of the 13-day high that was seen last Thursday. The pair last week rallied out of levels in the lower 1.1600s amid a backdrop of rising global stock markets, as the rise in risk appetite put a downward influence on the dollar, before news of Trump’s Covid infection.
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