The euro is under pressure today after touching a two-month high on Friday.
EUR/USD is down 18 pips to 1.0919 and near a session low. The selling comes in a broader US dollar rally that’s being helped by poor risk appetite and a tick higher in Treasury yields.
On Friday, the euro rose after the softer non-farm payrolls report but it couldn’t crack 1.10 and midway through the day it reversed lower as risk appetite fell led by profit taking in Nvidia.
I wouldn’t take too much from today’s trading ahead of tomorrow’s US CPI report. That’s going to be the pivotal event for the market this week.
EURUSD daily