EUR/USD: ECB leaves the euro well-positioned the taxman

EUR/USD has been bouncing off 1.20 as markets digest the news of US tax hikes. In the view of FXStreet’s Analyst Yohay Elam, the euro is well-positioned as the ECB’s upbeat message may keep the shared currency bid.

See: EUR/USD to surge towards 1.2349 and beyond amid a tone of quiet transformation – DBS Bank

There are better chances for EUR/USD to rise than fall
“Growth without inflation, does it get better than that? That has been the message from the European Central Bank, which could lead to fresh gains on Friday, assuming no new fears for markets. The ECB acknowledged better prospects for the old continent while pledging to keep supporting it with its bond-buying scheme. Since the pandemic broke out, euro-printing has proved positive for the common currency, as it supports government spending. Additional positive comments are also promising for euro bulls.”