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EUR/USD retreats from weekly highs amid falling EU’s bond yields

Mohamed Abdelhamid 9 June, 2023 7:41 pm Forex Market, Market Update

The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.

ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after Thursday’s jobs report in justified Fed’s view for skipping a rate hike.

Additionally, recent data from Canada pointed to a softening labor market, atoning with recent unemployment claims in the US. The EUR/USD is trading at 1.0753, down 0.26%.

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