Free Trial

USD Fades Off Highs as Yield Recovery Falters Through Early Europe

FOREX
  • As noted above, the uptick in the US yield curve through the European open has faltered, helping cement the recovery off lows for both EUR/USD and GBP/USD. Moves similarly mirror the ~10 point creep higher for the e-mini S&P over the past hour or so, steadying prices into the NY crossover.
  • ECB speak so far this morning has been inconsequential and inline with Lagarde's press conference yesterday (Data, not date, dependent), leaving EUR/GBP inside the downtrend channel drawn off the late December high. 0.8521 marks the next downside level ahead of stronger support into 0.8493.
  • EUR/USD now closely pinned to one of the most sizeable option expiries rolling off at today's cut, with E1.1bln rolling off at 1.0850 today.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.