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EUR/USD builds on Monday’s good rally and lifts EUR/USD into the multi-session peak area around 1.0930, which is also in line with Tuesday’s 100-day moving average (SMA) Coincident.
The extra recovery in EUR/USD has been accompanied by further loss of momentum in the US dollar, which has pushed the US dollar index (DXY) back further down and opened the door for a possible test around 103.00 sooner or later.
The dollar’s retreat comes against the backdrop of a modest correction so far in U.S. yields across different maturities. Among them, the short-term yield continued to hover at the 5.0% threshold, while the 10-year benchmark yield hovered at the level in November 2007, exceeding the 4.30% threshold.
