EURUSD – Up
EURUSD trading plan:
The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.18% on today, a day after the Federal Reserve held interest rates steady but stiffened its hawkish stance for future policy. The 10-year yield rose to 4.43%, a new 16-year peak. The U.S. central bank projected a further rate increase by the end of the year and expected monetary policy to be significantly tighter through 2024 than previously thought. Fed Chair Jerome Powell’s cautious view that a soft landing is not even the base case may reflect the uncertainties of policy lag, especially alongside the possible need for more tightening.
Investment idea: sell 1.0650 and take profit 1.0595.
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