EUR/USD to $1.0640?
The euro is falling lower versus the U.S. dollar for the fifth straight session on Friday. The pair is currently trading 0.3% lower, putting on track for losses in the region of 2.7% across the week.
The euro has been on the back foot across the week, which is not that surprising considering the devastation that coronavirus is having across the region. While Italy and possibly Spain have peaked in terms of daily deaths, the impact on the economies is only just starting to show through.
Spain, which has more than 102,000 coronavirus cases and a death toll of over 10,000 has been on lockdown since mid-March. The restrictions placed on the public have resulted in a huge demand shock to the economy causing many businesses to lay off staff or collapse. Spain reported its biggest rise in jobless claims ever. 800,000 people lost their jobs in Spain last month alone.
France also reported 4 million had applied for temporary unemployed benefits, this…