XE Market Analysis: Europe – Jun 10, 2021

The currency majors have been idling into key U.S. data and the ECB meeting. Global stock markets have also been lacking direction, while most industrial commodities are moderately lower today. The dollar yesterday dropped and then recovered, tracking the direction of longer-dated Treasury yields. The 10-year T-note yield hit a three-month low near 1.470%, which coincided with the DXY dollar index hitting a nine-day low at 89.84. Yields then steadied and lifted some, which saw the dollar index recoup to levels around 90.20.

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