The Euro is rising during early Wednesday trading, as positive sentiment is inundating markets. Yesterday, a Fed official hinted at the possibility of even more flexibility being needed in the American monetary policy. This was music to the ears of investors, meaning the Fed has no plans to change strategy in its unparalleled support to the economy. There have also been reports of successful tests for a coronavirus vaccine, which further enhanced global appetite for risk. Among the leading currencies the Euro is benefiting the most from this optimistic mood, hitting its highest level in four months versus the Dollar. If the upcoming EU summit of leaders manages to deliver an agreement on the much-anticipated European recovery fund, there will be scope for further upsides for the single currency.
