EUR/USD hit highs of 1.1274 and was last at 1.1270, up 1.03% for the day. The euro rallied against the other major currencies on Tuesday, jumping 1% against the broadly weaker dollar amid a renewed selloff in European government bond and stock markets. The single currency was boosted as a fresh selloff in global bond markets undermined greenback strength. German 10-year bund yields jumped, narrowing the gap with their U.S. counterparts. German bund yields act as benchmarks for European financial markets and higher yields push the euro higher against the dollar. Yields rise as prices fall. Weakness in bond markets and ongoing concerns over Greece also weighed on European equities.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
SELL GBP/USD BELOW 1.5635 TARGET 1.5615 1.5585 SL 1.5665
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