The EUR/USD rebound becomes more convincing

The EUR/USD exchange rate closed above 1.19 and its 200-day moving average yesterday. Reassuring words from the Fed chairman and the release of the account of the last ECB meeting left the impression that the Fed was more determined than the ECB to pursue an ultra-accommodating policy. US bond yields fell further, the 10y nearing 1.6%, after a surprising second increase in a row in US jobless claims. The GBP continues to weaken on worries regarding the vaccination campaign linked to its dependency to AstraZenaca and some political uncertainties too.

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