Powell rescued the dollar on Friday and sent the EUR/USD lower, but what about this week?

As mentioned earlier this morning, later on Friday afternoon, following the final update here, noting the further side in the Nasdaq 100, falling into a bear market, the Fed boss started speaking. Powell basically poured cold water on the calls by Trump for the Fed to lower interest rates. Of course the Fed needs to see the impact of these trade tariffs and how much that might impact employment and inflation. It also needs to be mindful of the continued attractiveness of US securities to overseas investors. Now prior to the comments from Powell, US treasury yields had continued to fall back since Wednesday evening, as investors dived out of stocks and back into US T bonds. So, the 10 year yield dropped to 3.86% at one point on Friday. It later closed at 4% and it was that rebound that helped the USD/JPY rise almost 300 points from its earlier session low. It also forced the EUR/USD below the prior breakout level, at 1.0955. Clearly there were some stops in place below that level and that produced a later session low, at 1.0925. However, and perhaps importantly, by the close the EUR/USD managed to edge back above that level, but only just, when ending the week at 1.0956. Overnight it fell back to 1.0882 in early Asian trading, only to rebound back above 1.10 again, as US yields fall back once more. The high since that low has been set at 1.1021 and it is close to that high right now, currently trading at 1.1016