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Jun 10 - 08:55 PM

EUR/USD - Opens Unchanged As US Yield Fall Offsets Dovish ECB

By John Noonan  —  Jun 10 - 07:21 PM
  • EUR/USD opens Asia unchanged after whipping between 1.2143/94

  • Pair fell after dovish ECB and hotter than expected US CPI nL2N2NS0FHnL2N2NS1CS

  • It reversed higher when the 10-year US yield plunged to a 3-month low

  • Bond market appears to be buying into Fed view that inflation is transitory

  • Support has formed at 1.2140/45 where decent buying is tipped

  • Resistance is at Wednesday's 1.2218 high with sellers ahead of 1.2200

  • Bias is for EUR/USD to move higher until US yields find a base

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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