Breaking: EUR/USD cracks the 1.15 level to trade at its highest level since January 2019

• EUR/USD is trading 0.44% higher on Tuesday and just hit a yearly high.
• The price is being driven by a weak USD which is lower against all the other majors.

EUR/USD daily chart

Sentiment has been bullish in the EUR since the anticipation of the Eurogroup deal on the virus. Although the grants were smaller than expected the market has still reacted positively to the news. The US continues to deal with the impact of the COVID-19 pandemic and the greenback is struggling against all of the major currencies on Tuesday. AUD/USD is a notable outperformer rising 1.36% further cementing its position above the 0.70 psychological level. The stock markets continue to perform well and in recent times a healthy risk-environment leads to a weaker USD. Gold and silver also have shot higher as their inverse correlation to the dollar continues. In the past, any escalation of the coronavirus pandemic led to USD buying but this time out the issues are more localised to the US and the EUR seems to be a good bet for traders and investors.