The EUR/USD pair enters a bullish consolidation phase after touching its highest level since late May during the Asian session on Thursday. Bulls now await a move beyond the 1.1700 mark before placing fresh bets and positioning for an extension of an over a three-week-old uptrend.
The US Dollar (USD) stabilized following the previous day’s US bond yields-led slump to a three-month low and turns out to be a key factor acting as a headwind for the EUR/USD pair. The fall in yields came after the US Treasury Department stepped in to provide relief to bond markets and said it would at least double purchases of longer-dated government debt from…
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