- The US dollar holds daily gains, now backed by US yields.
- EUR / USD is targeting the 200-day moving average at the 1.1850 zone.
The pair EUR/USD fell further after the beginning of the American session and before the speeches of Jerome Powell Y Janet Yellen. A stronger US dollar pushed the pair to 1.1860, the lowest level since March 9.
Earlier on Tuesday, risk aversion boosted the US dollar and demand for safe assets that send US yields lower and at the same time, the dollar higher. The positive tone around the dollar continued as US yields rebounded.
Despite falling against the US dollar, the euro remains flat against the pound and rises against the Swiss franc. The DXY peaked at 92.25, the highest level in two weeks. Market sentiment was affected by tensions between China and the US, the EU and the UK. In addition, increasing restrictions in Europe due to COVID weighed.
In a few minutes, US Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee. Your outlook on the US economy, the bond market, and fiscal and monetary policy could affect the markets.
Technical levels
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