EUR/USD Forecast: Struggling for direction amid yields’ return

The EUR/USD pair edged lower after hitting an intraday high of 1.2112, as US government bond yields resumed their advances ahead of Wall Street’s opening. The pair bottomed at 1.2042 during US trading hours, as government bond-yields resumed their advances while equities fell. However, Wall Street bounced off lows, which in turn lifted the dollar’s rivals. Meanwhile, the European Central Bank reportedly sees no need for drastic action to curb recent developments in the bond market, according to officials familiar with discussions. Yields rallied after such a headline. Markit published the February final Services … (full story)

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