- EUR / USD without clear direction, validating recent gains.
- The euro among the best performers in the market on Wednesday.
The EUR / USD rebounded strongly after falling to 1.2187 hours ago. From that level it jumped to 1.2238 and is trading around 1.2220, in the area where it closed on Tuesday.
The rebound occurred despite the fact that the dollar gained momentum on several fronts in the market, due to a fall in the stock markets, which led to an increase in the demand for safe-haven assets. But this did not affect the euro. The common currency is among the best performers, showing a significant advance against the Swiss franc and also appreciating against the pound.
The Dollar index is rising modestly. It failed to return above 90.00 and remains near the low in months. The key factor was the reversal in Treasury yields. The 10-year rate went from 1,668% to 1,625% in a few hours, weakening the dollar.
The decline in the greenback was limited by what happens on Wall Street. The Dow Jones is losing 1.44% and the Nasdaq 1.25%. This negative climate boosted the VIX (fear index) and the yen.
Later, the minutes of the last meeting of the Federal Reserve will be published, which can bring more noise to a very particular day in the financial markets, as a result of the decline in the equity markets and the collapse in cryptocurrencies.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
