Euro Exceeds $1.15 For First Time Since January 2019

The euro’s rise above $1.15 for the first time since January 2019 reflects the fact that outlook for the eurozone currency looks better than for the U.S. dollar, Commerzbank says. Following the approval of an EU coronavirus recovery fund, the market has “overcome a major risk factor for European cohesion, the European economy and the euro,” Commerzbank’s Antje Praefcke says. The U.S. has started discussing further fiscal stimulus amid rising coronavirus cases in the country but it’s “not yet certain” whether the package will be passed in Congress before the summer recess, she says. EUR/USD rises 0.1% to 1.1538 after hitting a one-and-a-half year high of 1.1549 earlier, according to FactSet.