EUR/USD drops to 1.5-month low as Fed rate hike fears fuel US Dollar, yields – by anilpanchal7 EURUSD ECB Fed YieldCurve RiskAppetite
grinds near the 1.5-month top surrounding 104.30, marked earlier in Asia. In doing so, the US Dollar’s gauge versus the six major currencies cheers the hawkish concerns about the Federal Reserve’s next move amid strong US data and upbeat comments from the Fed policymakers.
A slew of US statistics concerning inflation, employment and output underpin the force that pushes back the Fed’s policy pivot talks. The fashion could be witnessed in the latest comments from the Fed officials and the FEDWATCH tool, observed via Reuters. At home, the ECB’s monthly bulletin and the latest comments from the policymakers, including executive board member Fabio Panetta and Chief Economist Philip Lane, signal the need for a cautiousElsewhere, the recent fears of more US-China tussles over the spy balloon and Taiwan also bolster the US Dollar’s safe-haven demand, which in turn weighs on the EUR/USD price.
Against this backdrop, S&P 500 Futures mark 0.30% intraday losses to 4,086 while poking the weekly low after falling the most in a month on Thursday. Additionally, the US 10-year Treasury bond yields rise to a fresh high since December 30, 2022, whereas the two-year US Treasury bond also renews the highest levels since November 2022, making rounds to 3.88% and 4.68% in that order.
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