EUR-USD logged a fresh three-month high at 1.1430. There haven't been data or developments of significance out of Europe so far today, while the market is continuing to adjust to the latest batch of U.S. data misses and consequent downward revisions to Q1 and Q2 GDP estimates. This and an ongoing tumble in Bunds have seen the dollar's yield advantage erode back to the 151 bp area at the 10-year T-note versus Bund comparison, down from levels above 160 bp that were seen earlier in the week and well off the 185 bp levels seen just last month.
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