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FOREX: Greenback Sees No Support from Firming US Yields

FOREX
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The USD finding very little support from the uptick off lows for the US 10y yield, as EUR/USD and GBP/USD continue to inch to new daily highs into the NY crossover.

  • EUR/USD's uptick started in earnest at ~1100GMT, and has been pretty persistent since then. Volumes had been notably light across the European morning - but that's since reversed course thanks to an uptick in participation on the latest ~30 pips of strength - putting volumes inline with average for this time of day.
  • The pair is now running into resistance layered between 1.0446-53 (the Dec23, Dec 20 highs and 38.2% retracement for the downleg off the Dec high) but the monthly high is still well off at 1.0630.
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The USD finding very little support from the uptick off lows for the US 10y yield, as EUR/USD and GBP/USD continue to inch to new daily highs into the NY crossover.

  • EUR/USD's uptick started in earnest at ~1100GMT, and has been pretty persistent since then. Volumes had been notably light across the European morning - but that's since reversed course thanks to an uptick in participation on the latest ~30 pips of strength - putting volumes inline with average for this time of day.
  • The pair is now running into resistance layered between 1.0446-53 (the Dec23, Dec 20 highs and 38.2% retracement for the downleg off the Dec high) but the monthly high is still well off at 1.0630.