commodity tips EUR/USD drops to test 1.0550 as Treasury yields rally

[chetanepic]

The US dollar garnered significant strength across the board post-European open, triggering aggressive selling in EUR/USD towards the mid-point of 1.05 handle.  

The major finally broke the Asian consolidation box and ran through fresh sellers amid resurgent broad based US dollar demand, as the treasury yields resume the upside. The 2-year yields, which mimics the Fed rate hike expectations, hit the highest levels since July 2009 at 1.346%.  

The market has remained capped by the downtrend at 1.0631. Focus has shifted to last weeks low at 1.0494. Below here we continue to target recent lows at 1.0352/40

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