The USD is moving to the downside helped by lower yields. The US 10 year yield is trading down near 4.075%. That is also testing the 200 hour moving average currently at 4.070%. The yield on the 10 year has not traded below its 200 hour moving average since October 6 when the yield was down at 3.765%.
The move to the downside started after the yield fell below its 100 hour moving average currently at 4.176%.
The move lower in yields has helped to send the USD lower and also extend the trading ranges of the major currency pairs vs the USD. The ranges for the major USD pairs were less than 50% of the normal 22-day average at the start of the US session. The EURUSD, GBPUSD, USDJPY are all now above 90% of the average ranges. The other pairs are also extending as well.
