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The euro rose against the dollar in a market that is optimistic

The euro grew noticeably against the dollar on Tuesday, in a market that is optimistic, preferring to focus on the good news relating to the pandemic of sars coronavirus.

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To 19: 00 (20: 00 in Paris), the euro gained 0.89 per cent against the greenback, to 1,0995 dollar, approaching without exceeding the symbolic threshold of 1.10. The markets were closed in London and the United States Monday and the u.s. dollar, traditionally seen as a safe haven, is "out as groggy from the long weekend, beating a generalized against major currencies," notes joe Manimbo of Western Union. "Optimism is in the air as the economies revive, and companies appear to be making progress towards a vaccine against the sars coronavirus", he adds.

"Since a vaccine is seen as the only way to quickly revert to the situation pre-coronavirus, any positive announcement regarding a vaccine is well-received by investors," said Fiona Cincotta, senior analyst for City Index. This momentum "prevails for now on the potential threats of increased tensions between the United States and China," notes Joe Manimbo.

"a long way to go"

The pound sterling, which is considered a currency risk with the painful process of Brexit, took advantage in full of this renewed optimism, gaining 1.24 percent against the greenback, to 1,2342 dollar. The currencies linked to oil prices leapt to their side in favor of the increase in the price of the black gold: against the greenback, the canadian dollar was 1.6 per cent, the new zealand dollar gained 2%, the australian dollar appreciated by 1.8% and the Norwegian krone 1.9%.

For the analysts of Wells Fargo, the next key element for the euro will be the presentation on Wednesday by the european Commission of its recovery plan. "There is still a long way to go before reaching a concrete agreement, but if the headlines are positive (Wednesday), the euro could continue to recover", they argue.

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