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Jun 09 - 11:55 PM

EUR/USD - Tank - Strong USD, Politics Weigh

By Catherine Tan  —  Jun 09 - 09:40 PM
  • EUR/USD gaps lower, strong NFP and political uncertainty weighs nL1N3I51AX

  • Pair opens at 1.0795 vs 1.0800 NY close and tank to 1.0761 low

  • Fallout on EU elections where far-right parties made significant gains weigh

  • Macron's decision to call snap elections this mth adds pressure nL1N3I702R

  • EUR/USD last at 1.0773-75; nearby support at 1.0750 followed by 1.0720

  • Overshot in 21days BB may stall on failure ahead of 1.0720

  • Good resistance at 1.0840 region to attract fresh selling

  • DXY extends rally in Far East dealings, last at 105.11 vs 104.94 NY close

  • UST yields bid, 10yr last +2bps from NY close to 4.45%

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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