EUR/USD regains 1.1300 as yields step back from six-week high By anilpanchal7 EURUSD RiskAppetite YieldCurve Coronavirus Fed
US Treasury yields retreat from multi-day top amid quiet markets, light calendar in Asia.German Retail Sales, US ISM Manufacturing PMI to decorate calendar.licks its wounds near 1.1305, refreshing intraday high during Tuesday’s Asian session. The major currency pair dropped the heaviest in two weeks the previous day after a jump in the US Treasury bond yields propelled the US dollar.
That said, the health ministries from Spain and France have reported record covid cases while the US also marked a doubling of the virus numbers. “COVID worries have been front and center once again for investors since the start of the holiday season. The number of new COVID-19 cases has doubled in the last seven days to an average of 418,000 a day, mostly attributed to the highly transmissible but milder Omicron variant,” according to a Reuters tally.
Talking about data, the softer prints of the US Markit Manufacturing PMI for December failed to entertain traders ahead of today’s US ISM Manufacturing PMI for the said month, expected 60.2 versus 61.1.
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