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EUR/USD Ebbs to New Lows Amid Steeper Treasury Curve

EUR
  • Downside in EUR/USD accelerating in recent trade as the rate continues to track the persistent march higher in US Treasury yields. Curve continues to steepen as markets look to digest sizeable Treasury issuance and corporate slate this week.
  • EUR/USD now through Monday's lows as well as first Fib support to narrow in on Thursday's 1.1835. Break below here opens 1.1815.
  • Decent volume uplift in futures on the way lower, with over 2,000 contracts changing hands ($322mln cash equivalent).

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