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USD Buying Accelerates on Break to New Lows in EUR/USD

FOREX
  • USD bounce theme extending in recent trade, helping press EUR/USD and GBP/USD to new daily lows - EUR/USD now through the earlier lows of 1.1196 and helping trigger broader greenback buying. With Wednesday NY cut cleared, EUR/USD spot now nearing the larger expiries rolling off at the Thursday cut at $1.1190-00 (E1.3bln).
  • USD/JPY now putting in a test of the earlier highs, pair now facing resistance at the Y140.00 handle - which capped prices already this morning.
  • US yields supporting the dollar at these levels, with the 10y yield approaching the late US hours high printed yesterday at 3.799%.

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