08.04.2020 EUR/USD Daily Analysis

08.04.2020 EUR/USD Daily Analysis EUR/USD is trading at $1.0861 as the EUR weakens against the USD due to the Eurozone finance ministers failing to agree on how to deal with the economic damage caused by a coronavirus. On Tuesday, a teleconference was held among Eurozone finance ministers and is set to continue today since they did not come to a decision. Countries considered the hotshots of the virus such as Italy, Spain, and France want to share the debt from combating the pandemic in form of what they are calling 'coronabonds', meaning the other European countries will help them pay these debts. However, the wealthier countries did not agree with that as they feel it is not their responsibility to pay off other countries` debts especially since they too are affected by Covid-19. As the fatalities caused by the coronavirus increase, investors are seeking refuge in safe havens such as USD. The USD Index rose by 0.34%.  Ray Attrill, head of FX strategy at National Australia Bank said,  "Risk aversion and the U.S. dollar are going hand in hand."