The EUR/USD pair broke below 1.0960 and dropped to 1.0944, reaching the lowest level since last Thursday. The Euro pulled back against the Pound over the last hour and printed fresh lows versus the Swiss Franc. Meanwhile, the Greenback gained momentum again G10 currencies.
US Dollar strengthens despite yields and data
Produces Prices in the US came in below expectations but did not affect the US Dollar. Not even lower US yields weakened the Greenback that is among the top performers of the American session. The 10-year yield dropped from 1.59% to 1.51%, back to the same level it opened on Monday.
Trade war headlines swift from fear to hope ahead of high-level trade talks in Washingon. It was reported that the Chinese delegation is one of the largest compared to previous rounds of talks. Still, other reports showed the Trump administration is moving forward with higher tariffs and potential restrictions on portfolio flows into China. Market participants appear nervous ahead of the talks. The DOW JONES is falling 1.25% and the NASDAQ 1.37%.
In Europe, the Turkish Lira is falling sharply amid tension over Syria and there is always the Brexit uncertainty that earlier today drove GBP/USD sharply lower (now EUR/USD appears to be catching up).