EUR/USD trades to session lows on the day
EUR/USD is slipping a little to start the morning as bond yields continue to track lower across the board. Germany's 10-year bond yields have fallen to fresh lows last seen in October 2016, inching further into negative territory. Meanwhile, Treasury yields are also dipping slightly with 10-year yields down by 2.8 bps to 2.395% at the moment.
Once again, bonds are continuing to send a different signal to equities today and that continues to spark the debate that is brought upon as mentioned by Giles here.
As for EUR/USD, sellers are in near-term control and price looks to be headed for a further move lower at this point before things get better. Minor support around 1.1220-40 before the 1.1200 handle comes into play.
