EUR/USD: Dollar Sales Pick Up, US Yields Ease

EUR/USD has pushed to fresh session highs in the mid-1.2590s as US yields edge lower in the wake of the US home sales data. The data was slightly soft, but nothing to get too excited about. US/Eurozone yield differentials have narrowed a bit today given the juxtaposition between strong Ifo and weak home sales. The 10 year spread has tightened to 98 bp from 102 earlier in the week. Offers are seen at 1.2595/00 while small stops are eyed above. 1.2570 is support on dips near-term.