$EURUSD Forecast: Dollar on the run amid soaring yields by valbednarik forex trading
the Bank of Japan, which sent the JPY plummeting. The central bank announced it will be buying an unlimited amount of 10-year JGBs at 0.25% in an attempt to defend the yield cap.fell to an intraday low of 1.0944, recovering to 1.0998 during the European session. However, it quickly resumed its decline as government bond yields kept soaring. The yield on the 10-year US Treasury note jumped to 2.
The near term picture is neutral-to-bearish, as the 4-hour chart shows that converging 20 and 100 SMAs cap the upside, with mildly bearish slopes. Technical indicators, in the meantime, are within negative levels, without clear directional strength. Chances are of further dollar strength, with a break below 1.0920, exposing the year’s low at 1.0805.
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