EUR/USD advances further and approaches 1.1400 By pabspiovano EURUSD Currencies Majors
The relief-rally keeps propping up the rebound in the pair.The optimism around the European currency remains well and sound and now liftsEUR/USD advances for the second session in a row on Wednesday underpinned by the continuation of the relief rally in response to alleviating geopolitical concerns.
Closer to home, the selloff in the German bond market lifts yields of the key 10y Bund to new tops above 0.33%, an area last visited back in December 2018. The uptick in German yields comes in contrast with the mild downside pressure in their US peers, resulting in a narrow yield spread and morphing into extra support for the pair.
at some point by year end, higher German yields, persevering elevated inflation and a decent pace of the economic activity and other key fundamentals in the region: EMU Industrial Production – Flash EMU Consumer Confidence .: Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year. Presidential elections in France in April. Geopolitical concerns from the Russia-Ukraine conflict.So far, spot is advancing 0.18% at 1.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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