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EUR/USD back above 1.10 again this morning even as US yields rise
The noted fall below 1.0900 yesterday in the EUR/USD was as expected about stops and nothing else and as you can see that removal has paved the way for another rebound since. The Euro has lifted back above the 1.10 handle this morning, as the markets sell the US currency. That tells you just what exactly the markets think about the dollar in the light of recent developments. The EUR/USD had closed in the US last night 1.0958. The rise today has extended to 1.1069 so far this morning. Now what is apparent this morning and it is important folks; US yields have lifted, but that has not supported the US currency. So, why is that you might ask? Well, it is clear evidence of US treasuries being sold and by whom? It would seem the sales are non US based holders and they are now recycling those dollars back to their own currencies in many cases it would seem. This is potentially a very bad situation for the dollar, if it deepens. There will be more to add as the day unfolds. The EUR/USD is right now at 1.1060
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