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20 Apr 2015
EUR/GBP falls to session low
FXStreet (Mumbai) - The EUR is being sold across the board on worsening bond yield differential, taking the EUR/GBP pair to a session low of 0.7184 levels.
EUR hurt by slumping bond yields
The shared currency is losing appeal due to the weakness in the long duration bond yields in Germany and other core Eurozone nations. The 10-year Germany yield is trading at 0.078%, after having hit a record low of 0.049%. The 9-year yield also fell into negative on Friday.
Meanwhile, the UK Gilt yields are far from negative on the back of a relatively hawkish BOE and strong economy.
EUR/GBP Technical Levels
The immediate support is located at 0.7162 (Apr. 16, low), under which losses could be extended to 0.7100. On the flip side, a break above 0.72 could drive the pair higher to 0.7249 (50-DMA).
EUR hurt by slumping bond yields
The shared currency is losing appeal due to the weakness in the long duration bond yields in Germany and other core Eurozone nations. The 10-year Germany yield is trading at 0.078%, after having hit a record low of 0.049%. The 9-year yield also fell into negative on Friday.
Meanwhile, the UK Gilt yields are far from negative on the back of a relatively hawkish BOE and strong economy.
EUR/GBP Technical Levels
The immediate support is located at 0.7162 (Apr. 16, low), under which losses could be extended to 0.7100. On the flip side, a break above 0.72 could drive the pair higher to 0.7249 (50-DMA).