EUR/USD: US Yields Reach Pivotal Level

Benchmark 10-year US Treasuries are testing their high yields for the last five months, with a break of the 4.85% area targeting an eventual move back to 5.25%. A hawkish report from one of the big consulting shops is helping push yields higher as has a decline in US existing home inventories. Central bank bids are rumored as close at 1.2965 with more seen down through 1.2940. EUR/USD trades at 1.2972.