Euro Jumps On Coronavirus Fears – Investing.com
- Date: 26-Nov-2021
- Source: Investing.com
- Sector:Healthcare
- Country:Middle East
Euro Jumps On Coronavirus Fears – Investing.com
The euro has reversed directions on Friday and has posted considerable gains. is trading at 1.1289 in Europe, up 0.75%. The euro is benefitting from fears of a Covid variant that has spread across South Africa and is was detected in Hong Kong today.
Despite today’s positive performance, the technical outlook for the euro remains bearish. It has been a rough November for the euro, which is down 2.44% this month. Europe is in the midst of a fourth wave of Covid, and the massive spike in cases in Germany and elsewhere could derail the EU’s tenuous recovery.
Things were looking rosy until now, with the EU forecasting a strong 5% growth rate for 2021, but that projection is in jeopardy as lockdowns are looking more likely around the Christmas shopping season.
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