13 August, 2019
EUR/USD jumped during the European trading session to return above 1.1200 and test a fresh session high of 1.12200. The pair fell on a weaker US dollar as the benchmark 10-year Treasury yield was threatening to break below the rate of 1.60% and test its lowest rate since late 2016. Investors continued to flock to US Government Treasuries due to rising fears over a possible economic recession, which kept expectations high for another interest rate cut by the US Fed in September. Earlier in Europe, German ZEW Economic Sentiment showed a negative figure of 44.1, missing analysts’ expectations for a figure of -27.8. Later in the US, Inflation data for July will be released at 13:30 GMT+1.