Bend but don't break
Higher Treasury yields is the key story so far in European morning trade, with 10-year yields now up 4.6 bps to 1.666%. That in turn is keeping the dollar more bid.
That said, we are seeing the greenback run against key levels but not really chasing any further upside just yet as things get going on the session.
EUR/USD is keeping just below 1.1900 still but price is looking to keep a hold above its 200-day moving average @ 1.1886 as buyers try to defend the bounce this week.
GBP/USD saw a quick fall from 1.3730 to 1.3670 earlier but is staying defended by the 25 March low and 100-day moving average @ 1.3670-75 for the time being.
Meanwhile, AUD/USD fell just below 0.7600 to the lows for the week but is also hanging on to the swing region around 0.7592-96 as it keeps back above the figure level now.
And USD/CAD is also seeing the earlier bounce stall around 1.2600 with large expiries seen thereabouts something to consider before they roll off later in the day.
