EUR/USD falls to a fresh session low of 1.0730
It is a bit of a slippery slope for the euro against the dollar now, after breaking key daily support around 1.0769-78 earlier in the day.
Technically, there isn't much left on the way down towards a test of the March lows close to 1.0636-55 from hereon.
Fundamentally, this was the key factor that is pulling the euro lower as European leaders kicked the can down the road once again when it comes to trying to find a solution to deal with the economic fallout from the virus outbreak.
I don't quite believe that the market is starting to choose the winners and losers from the coronavirus crisis just yet, but the inability of the EU to even muster anything close to resembling a joint-effort is largely disappointing.
And the market is punishing the euro for that right now, not least after seeing the dismal PMI data yesterday.
