EUR crosses surge as US-China tensions ease, risk appetite improves
European currency pairs have strengthened notably during Monday's Asian session, with EUR/USD gaining 0.4% to 1.0875 and EUR/GBP rising 0.2% to 0.8340. The moves come as diplomatic progress between the US and China has boosted risk sentiment, benefiting pro-cyclical currencies. European equity futures point to a positive open, with DAX futures up 0.6% and CAC 40 futures advancing 0.5%. The improved risk environment has reduced safe-haven demand for the US dollar, while expectations for continued ECB rate support have bolstered the euro. Technical analysis shows EUR/USD approaching the 1.0900 resistance level, with momentum indicators turning bullish. Traders are positioning for potential further gains if the risk-on sentiment persists through the European session, though caution remains ahead of Tuesday's Eurozone inflation data release.
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