The EUR / USD has broken through 1.1600 amid persistent momentum in the dollar, trading at its lowest level in September 2020. The dollar continues to strengthen despite US government bond yields. They fell back from fresh multi-month highs, with the 10-year Treasury yield currently. by around 1.52% after peaking at 1.56% earlier in the day. Wall Street trading was mixed, with the major indices off intraday lows. However, mountainous speculation that the US Federal Reserve will have to cut facilities earlier than expected amid lingering inflationary pressures fuels demand for the US currency.
The drop is also technically related, as the pair broke to new 2021 lows earlier in the day. Bottlenecks and supply shortages elsewhere make the U.S. currency more attractive, although Federal Reserve Chief Powell acknowledged that supply-side constraints are holding the economy back. However, he also repeated that the US economy is approaching the level of reduction of the pandemic-related facility programs.
.
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.
