A move is afoot to push the FOMC toward adopting a target like the unemployment rate rather than a future date. Saying rates will stay low for years ahead implies a very slow recovery, Fed officials fear, so it may cause consumers to stay sidelines awaiting the recovery.
This looks to have prompted a small bout of USD short-covering. US Treasury yields are firmer, up a bot over 4 bp at the day at 1.66%.
1.3045/50 is next resistance of not for EUR/USD if the 1.3030 area is cleared. 1.3000 is minor support near-term with better support at 1.2970.
