EUR/USD slips to fresh session low as US yields rise again

The reaction to the better than forecast US service sector PMI data released a short while ago has pushed the dollar higher versus its major counterparts and that data is also delivering higher US yields right now. Of course that lies at the core of why the dollar has advanced further versus the Yen. However, the Euro does not like this either and as suspected earlier, it has been the catalyst to deliver fresh downside for the EUR/USD this afternoon. The US 10 year note is now nudging 4.40% and that is the driver. The EUR/USD just now hit a fresh session low at 1.0475, but the price action is pretty sticky at the same time and the Euro is not giving ups without a fight it seems. The suggestion here is; that if those yields continue to rise and push closer to 4.45%, the Euro might have little choice but to capitulate further. It is currently trading at .10483