The EUR/USD currency pair extended its gains for a second straight day but faced difficulty surpassing the resistance level at 1.1475. This price action followed the release of a weaker-than-expected US Nonfarm Payrolls report on Thursday, which weighed on the US dollar.
According to FX Street, the EUR/USD struggled to break above 1.1475 as traders digested the disappointing employment figures, limiting the pair’s upside momentum. The softer US jobs data has somewhat dampened confidence in the dollar, allowing the euro to gain ground temporarily.
For Japanese investors, these movements in the EUR/USD pair are significant as shifts in major FX pairs can influence risk sentiment and impact cross-currency strategies involving the yen, especially amid ongoing global economic uncertainties.