stay resilient for the time being but the greenback could continue to gather strength and weigh on the pair in case US Treasury bond yields gain traction.l
was planning to sell its holdings of lower-yielding European bonds to buy higher-yielding ones. In turn, the 10-year German bond yield climbed to its highest level since early 2014, providing an additional boost to the shared currency. Later in the session, May Industrial Production data will be featured in the US economic docket. FOMC Chairmanis scheduled to deliver a speech as well. Powell, however, is unlikely to touch on the policy outlook ahead of the semi-annual testimony before the US Senate next week. Ahead of the weekend, the currency's action is likely to be impacted by yields.38.2% retracement of the latest downtrend is located. In case the pair starts using that level as resistance, 1.
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