EUR/USD rebounds back as US yields retreat

The US dollar loses some of its earlier shine late on Friday amid lower US yields. The EUR/USD pair practically flat for the week and remains sideways.

Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the US session at 1.0145 and then rebounded back above 1.0200, amid lower US yields and higher equity prices in Wall Street.

US yields initially rose but then declined. Near the end of the week, the US 10-year yield is at 2.63%, the lowest since April. The yields slide impacted the US dollar, which lost momentum and pulled back, sending EUR/USD back above 1.0200. In Wall Street, equities were in positive ground, about to end the best month since 2020.

The data released on Friday in the US showed larger-than-expected increases in consumer spending and personal income. At the same time, the Core PCE showed inflation is not pulling back.