US T Yields Spike Following Powell’s Comments; USD Cements Position North of 91.00

February, as you can see, eked out marginal losses (0.5 percent), ranging between 1.2243 and 1.1952. Upriver, technical action suggests March could reach for ascending resistance (prior support – 1.1641), while lower on the curve 1.1857/1.1352 represents demand. In terms of trend, the primary uptrend has been in play since price broke the 1.1714 high (Aug 2015) in July 2017. Daily timeframe: Europe’s shared currency fell sharply against a broadly stronger USD on Thursday, dipping 0.7 percent. Demand for the US dollar was largely driven by a Powell-induced advance in US Treasury yields. EUR/USD left Thursday … (full story)

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