EUR/USD lost its bullish momentum and closed in negative territory on Wednesday. Surging US Treasury bond yields and the risk-averse market atmosphere
EUR/USD turned sideways below 1.0550 following Wednesday's decline. Fed Chairman Powell will deliver a speech later in the day. A downward correction in US bond yields could hurt the USD. allowed the US Dollar to gather strength and forced the pair to stay on the back foot. Markets remain relatively quiet early Thursday, allowing EUR/USD to consolidate its losses. Meanwhile, US stock index futures trade modestly lower, suggesting that investors remain cautious.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . In the second half of the day, Federal Reserve Chairman Jerome Powell will deliver a prepared statement and respond to questions before the Economic Club of New York. The Fed's blackout periodwill start on Tuesday and Powell could take this opportunity to comment on the policy outlook.
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