EUR/USD bulls struggle above 1.0650 as yields propel US Dollar, ECB’s Lagarde, Fed in focus – by anilpanchal7 EURUSD ECB Fed RiskAversion YieldCurve
early Monday morning in Europe as joint efforts from the major central banks to avoid a liquidity crunch join the UBS-Credit Suisse deal to favor the market’s risk profile, as well as underpin the recovery in the US Treasury bond yields and the US Dollar.
Furthermore, ECB policymaker Peter Kazimir said that there is a need to continue with rate hikes while Governing Council Member Gediminas Šimkus backed the hawkish bias while saying, “The terminal rate hasn't been reached yet.” Against this backdrop, the S&P 500 Futures print mild gains while reversing the previous day’s pullback from a one-week high around 3,970 whereas the US benchmark Treasury bond yields recover. That said, the US 10-year Treasury bond yields rise six basis points to 3.49% while the two-year counterpart also adds five bps to print a 3.93% coupon at the latest.
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