EUR/USD retreats as second wave push hedge funds to dump euro

The EUR/USD price is falling today as the rising number of Covid-19 cases in Europe increase the likelihood of a double dip recession. It is trading at 1.1835, which is the lowest it has been since Friday last week. Rising number of Covid cases Most countries in Europe have been experiencing a second-wave of the virus in recent days. Yesterday, France confirmed more than 52,000 cases, the highest number ever recorded. That brought the total number of infections to more than 1.14 million. In Germany, the biggest economy in Europe, the government confirmed more than 11k cases as the number