Despite Friday's bounce, EUR/USD is on track to close the week with losses for second time in a row as investors flied to safety favoring safe-haven assets over higher-yielding currencies over the last days.
On Friday, better-than-expected July NFP report coupled with media reports saying the European Central Bank will buy Italian bonds brought some relief to financial markets a day after Wall Street suffered its worst decline since February 2009.
EUR/USD is currently trading at the 1.4260 area, up 1.2% on the day but still 0.83% below its Monday's opening. The pair had hit a weekly high at 1.4453 on Monday and a low of 1.4054 during Friday's Asian session on the back of ECB's dovish comments
On Friday, better-than-expected July NFP report coupled with media reports saying the European Central Bank will buy Italian bonds brought some relief to financial markets a day after Wall Street suffered its worst decline since February 2009.
EUR/USD is currently trading at the 1.4260 area, up 1.2% on the day but still 0.83% below its Monday's opening. The pair had hit a weekly high at 1.4453 on Monday and a low of 1.4054 during Friday's Asian session on the back of ECB's dovish comments
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