kend, the 10-year US Treasury yield soared to a fresh two-year high of 1.856%, while the yield on the 2-year bond reached 1.06%, as investors fear the US Federal Reserve will have to accelerate further its tightening pace.
The US central bank is having its first meeting of the year next week and is not expected to change rates or the rest of the monetary policy, although investors will be looking for confirmation that the first rate hike will take place in March. The pace at which policymakers will raise rates is critical, as the latest dot-plot hinted at three hikes in 2022.
. The country published the January NY Empire State Manufacturing Index, which unexpectedly plunged to -0.7 from 31.9. Later into the American session, it will be the turn of November TIC Flows data.The EUR/USD pair is trading back below the 38.2% retracement of the 1.1691/1.1185 decline at 1.1385, which opens the door for an extension towards the 1.1300 region. The pair is down for a third consecutive day, below a firmly bearish 100 SMA, which converges with the 61.
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