Home›Forex›Major Pairs›EUR/USD slides as Fed hike bets lift the US dollar

EUR/USD slides as Fed hike bets lift the US dollar

EUR/USD was last around 1.1368, down 0.20%, while the US 10-year Treasury yield rose to 5.27%.

Reported · Written up by our desk · Major Pairs

EUR/USD traded lower on Monday, weighed by a stronger US dollar as markets increasingly priced in further Federal Reserve rate hikes, FXStreet said. The outlet linked the dollar’s strength to higher Treasury yields and ongoing support for oil prices.

FXStreet pointed to a Reuters report that mediators are expected to hold separate talks with US and Iranian officials on Monday or Tuesday, aimed at an amended version of Iran’s seven-day proposal to reopen the Strait of Hormuz after President Donald Trump rejected an earlier version over the weekend.

The article said the US 10-year Treasury yield rose to 5.27%, its highest level since 2007, and the US Dollar Index held near 101.22, close to a two-month high. It also cited CME FedWatch showing a 70% chance of another Fed rate hike in October after the September meeting raised rates by 25 basis points.

Latest closeEUR/USD 1.139 ▲0.1%|Dollar index 101.03 ▼0.2%

More like this

Sources