Increased selling in US Treasury yields weighed on the US dollar index Thursday, with the 10-year benchmark shaking hands with all-time lows at 1.23%. Optimistic data out of the US – durable goods and pending home sales – failed to offer much respite, with the DXY testing lows at 98.36 and marginally fading daily support priced in at 98.45.
Thursday 27th February: Dollar Index Modestly Snaps Three-Day Losing Streak Ahead of US Durable Goods Data.
Wednesday had the EUR/USD unchanged at the close of trade in London. A fleeting move north of the 1.09 handle emerged, yet 1.0908 proved challenging to overcome, sending the pair to H4 support at 1.0857. Note 1.09 links with a 38.2% Fibonacci retracement ratio.