The EUR/USD currency pair extended its gains to around 1.1550-1.1551 on Thursday, maintaining levels close to three-week highs. This upward momentum follows positive economic data and a decline in oil prices, which have supported the euro against the US dollar.
According to FX Street (UOB), the pair closed at 1.1551 with mild upward momentum and could test intraday resistance near 1.1565. However, a move towards 1.1600 appears unlikely without stronger momentum. The rally has been notable, with the EUR/USD climbing approximately 1.6% from last week's lows, as reported by FX Street.
For Japanese investors, these developments are significant given the ongoing impact of USD/JPY fluctuations and the broader FX market dynamics affecting export-driven equities and cross-border investment strategies.