Dollar and end-year Fed expectations edging higher together.“As the regional banking crisis erupted, the market briefly priced end-year rates below 4% but that’s back above 4 ½% now and the Dollar is grinding higher in the process. I doubt we can get back to where we were in early March, but the market’s short Dollars and this kind of grinding uptrend can be painful.”
“As for EUR/USD, the long-term rate trends suggest that there’s still considerable upside potential. The current correction is just that, even if it does last several more weeks and cause further pain.”
EUR/USD drops to seven-week lows near 1.0770 as Dollar strengthens
EUR/USD broke below the 1.0800 level and tumbled to 1.0774, its lowest level since March 27th. The pair continues to face pressure due to a stronger US dollar across the board, fueled by comments from the Fed’s Logan and positive US economic data.
EUR/USD News
GBP/USD falls to 3-week lows near 1.2400 after US data
GBP/USD remains pressured toward 1.2400 following the release of US economic data. The US Dollar has resumed its rally across the board, as US yields surged to fresh monthly highs driven by positive data.
GBP/USD News
Gold breaks below $1,970 to lowest since early April
Gold price accelerated to the downside following better-than-expected US economic data. US yields rose further, adding more pressure to the yellow metal. XAU/USD fell toward $1,965, a level last seen back on April 3rd.
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