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EUR/USD edges closer to 1.0800 as US yields slip

Earlier this morning the US treasury yields were on the rise and that underpinned the dollar and especially the USD/JPY. Well, since then those US yields have fallen back. Once again we are not talking about a significant shift here, but 2-3 BP is enough these days to have an impact and that is what it has done this morning. The GBP/USD has reclaimed the 1.26 handle, which is something it could not achieve during the Asian session. The EUR/USD has just now traded above 1.0790, to 1.0794, which is also a new high on the day. Hence, the USD index is now at session lows, notwithstanding the USD/JPY remaining relatively elevated, around 150.27. Consequently, both the EUR/JPY and GBP/JPY are now higher than earlier. I noted yesterday, how the EUR/USD failing to reclaim the 1.08 handle was surely a disappointment to Euro bulls. Well, perhaps they might be a bit more enthusiastic about its prospects now this morning. The EUR/USD is currently trading at 1.0792
 

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