EUR/USD keeps rising: hits fresh 1-year high and eyes 1.1450

EUR/USD resumed the upside during the American session as the spread between US and European bond yields narrowed further and amid a decline in equity prices in Wall Street. The pair reached a new 1-year high at 1.1444 and remains near the top, holding a strong bullish tone. 

USD remains weak 

After a brief pause, the greenback turned again to the downside. The latest slide also included the yen amid a reversal in Wall Street. The US Dollar Index fell to 95.25, hitting the lowest in almost nine months. The Dow Jones opened in positive territory and now is down 0.84%. The VIX index, a gauge of volatility jumped today almost 40%. 

Regarding data, tomorrow will be a busy day. Inflation data from the Eurozone and employment numbers from Germany will be released. In the US, the Personal Income and spending data, the Chicago PMI and Consumer sentiment report are due. Today the third reading of US Q1 GDP showed a positive revision from 1.2% to 1.4%. 

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