5/4/2021 7:33:09 PM GMT
EUR/USD Current Price: 1.2012
USD dollar advanced despite lower equities and retreating US Treasury yields.
US Treasury Secretary Janet Yellen said that rates might rise to prevent overheating the economy.
EUR/USD is under pressure and near a critical Fibonacci support level at 1.1980.
The EUR/USD pair edged marginally lower, ending the day around 1.2010 after hitting a daily low of 1.1998. The American dollar has strengthened against most of its major rivals, despite fluctuating stocks behavior. European indexes firmed up for most of the session, leading to gains in US futures, but there was a sudden U-turn ahead of Wall Street’s opening that led to substantial losses in European and American stocks. Wall Street bounced off intraday lows, reached after US Treasury Secretary Janet Yellen said that at some point, “interest rates will have to rise somewhat to make sure that our economy doesn't overheat.”