EUR/USD JUMPS ABOVE 1.06 AS THE TREASURY YIELDS DROP
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The EUR/USD pair jumped to a session high of 1.0624 this Thursday morning on the back of a drop in the treasury yields.
The 10-year treasury yield dropped two basis points to 2.48% after having failed to extend gains above 2.5% in the North American session.
Moreover, Yellen’s disappointing comments on the economy and the sharp downward revision of the US Q1 GDP by the Atlanta Fed overshadowed the rise in the core inflation and core retail sales and triggered a wave of selling in the US dollar. EUR/USD staged a solid recovery from the low of 1.0521 to end the day higher at 1.0598.
Current Exchange rate of EUR/USD pair is 1.0615.
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