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TDUX
May 15 - 08:55 AM

EUR/USD - Bulls Fear US Yields, Rates 

By Christopher Romano  —  May 15 - 07:21 AM

• EUR/USD hit 1.1676 overnight, sellers emerged and the pair turned lower

• Sharp gains in US yields , rates weighed on the pair

• US interest rate gains drove USD broadly higher; UDS/CNH rallied above 6.8140

• Wider US-German 2-year spread contributed to EUR/USD's fall

• Drops in gold , silver & stocks added to the USD dollar's bid

• EUR/USD hit a 1-1/2-month low of 1.1617 then bounced slightly

• Some early NY USD selling lifted EUR/USD towards 1.1645, pair traded down -0.21%

• Falling RSIs, move below 55-DMA, monthly inverted hammer are bearish tech signs
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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