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The USD selling picked up pace during the early European session and lifted the EUR/USD pair closer to mid-1.1400s – highest since March 10.

The pair prolonged its recent positive momentum and gained strong follow-through traction for the fourth consecutive session on Wednesday. The upbeat market mood continued denting the US dollar's relative safe-haven status and was seen as one of the key factors driving the EUR/USD pair higher.

The shared currency benefitted from hopes that European Union leaders may agree on stimulus and deepen fiscal integration to shield the Eurozone economy from the pandemic.

EURUSD H4 06 18 2020 1022

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