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EUR/USD holds 1.06 in Asian trading

The EUR/USD fell to a fresh interim low earlier today, when it reached 1.0606. The Euro had closed in the US last night at 1.0624. The high set earlier today was at 1.0628. The further rise in US yields is maintaining the USD/JPY above 154, as it continues to defy warnings from the BOJ. That coupled with not further gains in the EUR/JPY is keeping the pressure on the EUR/USD. To some degree the lack of haven status for the Yen right now, in anything more than the odd passing move, is clear testament to the preference for the US currency under the current risk backdrop. It has been stated here several times now and repeated again this morning, barring any significant improvement on that risk outlook, the risks of a move towards 1.05 in the EUR/USD will remain elevated. The EUR/USD is currently trading at 1.0618
 

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