By Christopher Romano — May 22 - 01:41 PM
• NY opened near 1.1295 after 1.13445 hit on EBS overnight, drop then extended
• Investors sought out US assets which weighed on euro & underpinned the US$
• Bonds , USD/CNH, stocks rallied while gold fell nearly -0.70%
• Wider German-US 2-year spread helped to pressure EUR/USD lower
• EUR/USD hit 1.1255 late in NY's afternoon, the pair traded down -0.62%
• Move below 10- & 21-DMAs, falling daily & monthly RSIs may worry bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters